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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.
OIL POSITIONING
Crude managed money net long positions fell to the lowest since the end of June according to the Commitments of Traders data released on Friday. The combined net long positions for Brent and WTI fell by -31k to 208k with Brent down to the lowest since May.
- Futures markets have seen bearish pressure this month driven by concern for a market surplus next year amid uncertainty over OPEC+ member commitment to voluntary cuts.
- ICE Gasoil, Nymex diesel and Nymex gasoline long positions also all decreased on the week with ongoing demand weakness weighing on markets.
- ICE Brent net longs fell by -24k to +143k
- Nymex WTI net longs fell by -11k to 88k
- ICE Gasoil fell by -15k to +13k
- Nymex diesel fell by -7k to +29k
- Nymex gasoline fell by -1k to 65k
Source: Bloomberg
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.
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