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Net Bullish ICE Brent Position Cut to 10-Year Low

OIL

Money managers cut their bullish ICE Brent crude bets by 102,075 net-long positions to 45,678, according to Bloomberg citing weekly ICE Futures Europe data.

  • The net-long position was the least bullish in almost 10 years.
  • Long-only positions fell 44,919 lots to 218,315 in the week to June 4, the lowest in six-months.
  • The short-only positions rose 57,156 lots to 172,637, the highest in around seven years, Bloomberg said.
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