MNI BRIEF: Brussels Focused On 4-Year Defence Exemption

MNI INTERVIEW: Hainan Green FTZ to Attract EU Investors - NPC

MNI POLICY:BOJ Still Sees JGB Yields In Line With Fundamentals

MNI China Daily Summary: Monday, March 10

MNI BRIEF: Japan Feb Sentiment Drops, Govt Cuts View

MNI: China CFETS Yuan Index Down 0.85% In Week of Mar 7

MNI: GERMANY JAN INDUSTRIAL PRODUCTION 2.0% M/M

MNI: GERMANY JAN TRADE BALANCE E16.0BLN

MNI: NORWAY FEB CORE CPI +1% M/M, +3.4% Y/Y

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL POSITIONING: Funds Cut Crude Position to Least Bullish Since Mid December

OIL POSITIONING
BulletEnergy BulletsCommodities

Funds cut net long crude oil positioning to the lowest since mid December driven by a decline in bullish Brent positions, according to the Commitments of Traders data released on Friday.

  • The combined net long positions for Brent and WTI fell by 16k to 230k for the week to Mar. 4.
  • WTI net longs positions recovered slightly after the declines in February took levels to the lowest since 2010.
  • ICE Gasoil positioning switched to a net short for the first time since December and to the most bearish since mid November.
  • The Nymex diesel position remained relatively unchanged and just below the most bullish since Feb. 2024.
  • The Nymex gasoline net long positions were cut again to the lowest since September.
    • ICE Brent fell by 61k to +159k
    • Nymex WTI increased by 36k to +104k
    • ICE Gasoil fell by 37k to -10k
    • Nymex diesel fell by 4k to +14k
    • Nymex gasoline fell by 8k to +20k

 

Keep reading...Show less
148 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Funds cut net long crude oil positioning to the lowest since mid December driven by a decline in bullish Brent positions, according to the Commitments of Traders data released on Friday.

  • The combined net long positions for Brent and WTI fell by 16k to 230k for the week to Mar. 4.
  • WTI net longs positions recovered slightly after the declines in February took levels to the lowest since 2010.
  • ICE Gasoil positioning switched to a net short for the first time since December and to the most bearish since mid November.
  • The Nymex diesel position remained relatively unchanged and just below the most bullish since Feb. 2024.
  • The Nymex gasoline net long positions were cut again to the lowest since September.
    • ICE Brent fell by 61k to +159k
    • Nymex WTI increased by 36k to +104k
    • ICE Gasoil fell by 37k to -10k
    • Nymex diesel fell by 4k to +14k
    • Nymex gasoline fell by 8k to +20k

 

Keep reading...Show less