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Funds Cut Crude Net Longs to Least Bullish Since January

OIL POSITIONING
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Money managers cut net long crude positions again last week, to extend a pull back since a high in mid-April and falling to the least bullish since January. The combined net long positions for Brent and WTI decreased by 29k to 320k according to the Commitments of Traders data released on Friday.

  • ICE Gasoil net long fund positioning edged higher after declines seen in recent weeks but Nymex gasoline net long fund position fell again to the least bullish since early November.
    • ICE Brent net longs fell by 47k to +214k
    • Nymex WTI increased by 11k to +129k
    • ICE Gasoil increased by 6k to +39k
    • Nymex diesel increased by 1k to +4k
    • Nymex gasoline fell by 5k to +44k

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Money managers cut net long crude positions again last week, to extend a pull back since a high in mid-April and falling to the least bullish since January. The combined net long positions for Brent and WTI decreased by 29k to 320k according to the Commitments of Traders data released on Friday.

  • ICE Gasoil net long fund positioning edged higher after declines seen in recent weeks but Nymex gasoline net long fund position fell again to the least bullish since early November.
    • ICE Brent net longs fell by 47k to +214k
    • Nymex WTI increased by 11k to +129k
    • ICE Gasoil increased by 6k to +39k
    • Nymex diesel increased by 1k to +4k
    • Nymex gasoline fell by 5k to +44k

Keep reading...Show less