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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
Money managers reduced net long crude positions this week with a drop in Brent offsetting a rise in WTI to the most bullish since October 2023. The combined net long positions for Brent and WTI fell by 5k to 435k according to the Commitments of Traders data released on Friday.
- Fund net positions in crude markets have held relatively steady in recent weeks with concern for future global demand and returning OPEC+ supply from October weighed against near term tightness and geopolitical and weather-related supply risks.
- ICE Gasoil net long positioning fell back further from a high in late June while Nymex diesel maintained a net short position.
- Nymex gasoline net longs fell in the week but remain above the low seen in mid-June.
- ICE Brent net longs fell by 16k to +184k
- Nymex WTI increased by 11k to +264k
- ICE Gasoil fell by 30k to +54k
- Nymex diesel fell by 3k to -10k
- Nymex gasoline fell by 5k to +31k
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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