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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 increased in the week to 6 June following the OPEC+ meeting with the combined net long positions for Brent and WTI up by 22k to 265k according to Commitments of Traders data released on Friday.
- The hedge fund positions on Brent were boosted to the highest in six weeks after recovering from a low point in mid May while WTI gained to halt the recent trend lower.
- ICE Gasoil managed money net positions turned less bearish in the week but remains in a net short position with global demand concerns still in focus.
- ICE Brent net longs increased by +22k to 182k
- Nymex WTI net longs increased by +8k to 119k
- ICE Gasoil increased by +6k to -16k
- Nymex diesel increased by +7k to +15k
- Nymex gasoline fell by -3k to 53k
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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