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OIL POSITIONING: Funds Raise Bullish Brent Crude Positioning

OIL POSITIONING
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Funds have raised bullish oil positioning again with combined net long positions for Brent and WTI increasing by 27k to 465k for the week to Jan. 14, according to the Commitments of Traders data released on Friday.

  • The combined position rose to the highest since May despite a small dip in WTI bullish positioning.
  • Funds also increased net long ICE Gasoil positions to the remain the highest since July while the Nymex diesel net short was the least bearish since July.
  • The Nymex gasoline net long position edged slightly higher on the week after a drop during December.
    • ICE Brent increased by 27k to +254k
    • Nymex WTI fell by 16k to +231k
    • ICE Gasoil increased by 5k to +37k
    • Nymex diesel increased by 9k to -1k
    • Nymex gasoline increased 4k to +57k
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Funds have raised bullish oil positioning again with combined net long positions for Brent and WTI increasing by 27k to 465k for the week to Jan. 14, according to the Commitments of Traders data released on Friday.

  • The combined position rose to the highest since May despite a small dip in WTI bullish positioning.
  • Funds also increased net long ICE Gasoil positions to the remain the highest since July while the Nymex diesel net short was the least bearish since July.
  • The Nymex gasoline net long position edged slightly higher on the week after a drop during December.
    • ICE Brent increased by 27k to +254k
    • Nymex WTI fell by 16k to +231k
    • ICE Gasoil increased by 5k to +37k
    • Nymex diesel increased by 9k to -1k
    • Nymex gasoline increased 4k to +57k
image

 

Keep reading...Show less