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OIL POSITIONING: Funds Hold Combined Brent and WTI Net Long at Highest Since Aug

OIL POSITIONING
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Money managers increased net long crude positions slightly last week with a rise in WTI positions mostly offset by a drop in Brent positions.

  • The combined net long positions for Brent and WTI for the week to Dec. 24 increased by 2k to 299k to hold at the highest since early August, according to the Commitments of Traders data released yesterday.
  • Net short fund positioning for Nymex diesel has been reduced to the least bearish since early November.
  • Funds net ICE Gasoil positions remained relatively unchanged on the week to hold a net long after briefly switching to a net short position in the week to Dec. 10.
  • Net long positioning for Nymex gasoline fell back again to reverse some of the increase seen during October and November.
    • ICE Brent fell by 31k to +154k
    • Nymex WTI increased by 22k to +183k
    • ICE Gasoil fell by 0.2k to +13k
    • Nymex diesel increased by 13k to -19k
    • Nymex gasoline fell by 11k to +56k

 

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Money managers increased net long crude positions slightly last week with a rise in WTI positions mostly offset by a drop in Brent positions.

  • The combined net long positions for Brent and WTI for the week to Dec. 24 increased by 2k to 299k to hold at the highest since early August, according to the Commitments of Traders data released yesterday.
  • Net short fund positioning for Nymex diesel has been reduced to the least bearish since early November.
  • Funds net ICE Gasoil positions remained relatively unchanged on the week to hold a net long after briefly switching to a net short position in the week to Dec. 10.
  • Net long positioning for Nymex gasoline fell back again to reverse some of the increase seen during October and November.
    • ICE Brent fell by 31k to +154k
    • Nymex WTI increased by 22k to +183k
    • ICE Gasoil fell by 0.2k to +13k
    • Nymex diesel increased by 13k to -19k
    • Nymex gasoline fell by 11k to +56k

 

Keep reading...Show less