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Funds Net Long Crude Positions Increase on the Week

OIL POSITIONING

Crude managed money net long positions increased last week to just below the highest since October seen earlier this month amid OPEC+ cuts and geopolitical upside risks. The combined net long positions for Brent and WTI increased by +19k to 400k according to the Commitments of Traders data released on Friday.

  • ICE Gasoil net long positions dipped slightly on the week from the highest since August the previous week. Nymex diesel and gasoline nets longs also edged slightly down on the week.
    • ICE Brent net longs fell by -4k to +272k
    • Nymex WTI net longs increased by +18k to +134k
    • ICE Gasoil fell by -5k to +77k
    • Nymex diesel fell by -4k to +22k
    • Nymex gasoline fell by -1k to +61k


Source: Bloomberg

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