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OIL POSITIONING: Funds Net Long Crude Positions Dip Despite Brent Rise

OIL POSITIONING
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Money managers cut net long crude positions slightly last week with a rise in bullish Brent positions offset by a fall in WTI net longs. The combined net long positions for Brent and WTI for the week to Oct. 1 fell by 5k to 146k according to the Commitments of Traders data released on Friday.

  • Funds reduced the bearish ICE Gasoil and Nymex diesel positioning slightly after both had showed the largest net short on record in mid September.
  • Net long positioning for Nymex gasoline also turned slightly more bullish again but remains at fairly low levels.
    • ICE Brent increased by 20k to +42k
    • Nymex WTI fell by 21k to +141k
    • ICE Gasoil increased by 6k to -56k
    • Nymex diesel increased by 2k to -40k
    • Nymex gasoline increased by 2k to +26k

 

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Money managers cut net long crude positions slightly last week with a rise in bullish Brent positions offset by a fall in WTI net longs. The combined net long positions for Brent and WTI for the week to Oct. 1 fell by 5k to 146k according to the Commitments of Traders data released on Friday.

  • Funds reduced the bearish ICE Gasoil and Nymex diesel positioning slightly after both had showed the largest net short on record in mid September.
  • Net long positioning for Nymex gasoline also turned slightly more bullish again but remains at fairly low levels.
    • ICE Brent increased by 20k to +42k
    • Nymex WTI fell by 21k to +141k
    • ICE Gasoil increased by 6k to -56k
    • Nymex diesel increased by 2k to -40k
    • Nymex gasoline increased by 2k to +26k

 

Keep reading...Show less