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OIL: ICE Brent Flips to Net Bearish: Bloomberg

OIL
BulletEnergy BulletsCommodities

Money managers have flipped to bearish from bullish on ICE Brent crude oil as the market is now net-short by 12,680 lots, according to Bloomberg citing ICE data.

  • The traders had been net-long by 41,645 positions last week.
  • The net-short position was the most bearish on record in data spanning from Jan. 2011.
  • Long-only positions fell 33,861 lots to 151,543, the lowest in 12-years.
  • The short-only position was the highest in 14 weeks, up 20,464 to 164,223.
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Money managers have flipped to bearish from bullish on ICE Brent crude oil as the market is now net-short by 12,680 lots, according to Bloomberg citing ICE data.

  • The traders had been net-long by 41,645 positions last week.
  • The net-short position was the most bearish on record in data spanning from Jan. 2011.
  • Long-only positions fell 33,861 lots to 151,543, the lowest in 12-years.
  • The short-only position was the highest in 14 weeks, up 20,464 to 164,223.