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OIL: Net Bullish ICE Brent Crude Oil Bets Hit 5-Week High

OIL

Money managers have boosted their bullish ICE Brent crude oil bets by 18,875 net-long positions to 80,072, ICE data cited by Bloomberg showed.

  • The net-long position was the most bullish in five weeks.
  • Long-only positions rose 14,023 lots to 196,286 in the week to Aug. 27.
  • The long-only total was the highest in four weeks.
  • Short-only positions fell 4,852 lots to 116,214.
  • The short-only position was the lowest in six weeks.

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