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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
ICE Brent crude managed money net long positions increased again this week back towards the highest since October 2021 according to Commitments of Traders data released on Friday.
The ICE Brent managed money long-short ratio has risen to the highest since mid 2019 at around 14.5 with the recovery in China expected to boost oil demand this year.
- The CFTC market positioning data is still catching up from the delays seen in February but data for 21 Feb showed Nymex WTI net longs lower in the week with concern for the impact of further US Feb rate hikes.
- ICE Gasoil positions showed a small increase on the week but remain near the lowest since late 2020.
- ICE Brent net longs increased by +12k to 298k. (7 Mar)
- Nymex WTI net longs fell by -27k to 164k. (21 Feb)
- ICE Gasoil increased by +6k to 45k. (7 Mar)
- Nymex diesel unchanged at 17k. (21 Feb)
- Nymex gasoline fell by -4k to 55k. (21 Feb)
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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