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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
Money managers raised net long crude positions further this week to the most bullish since early May. The combined net long positions for Brent and WTI rose by 71k to 385k according to the Commitments of Traders data released on Friday.
- The increase reflects the market focus on upside risks from tight supply and potential higher summer fuel demand along with geopolitical and hurricane risks. Funds crude net long positioning however remains well below the bullish levels seen in April.
- ICE Gasoil net long positioning rose to the highest since March 2022 although Nymex diesel is still holding a net short position.
- Nymex gasoline net longs edged higher from the least bullish since October the previous week.
- ICE Brent net longs increased by 18k to +158k
- Nymex WTI increased by 45k to +236k
- ICE Gasoil increased by 20k to +99k
- Nymex diesel fell by 7k to -12k
- Nymex gasoline increased by 7k to +34k
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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