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WTI Net Long Positioning Follows Brent Lower


Managed money net long positions in Nymex WTI followed the move in ICE Brent lower according to the delayed commitment of traders data released yesterday. Bullish positions have reduced due to the uncertainty over the impact of the oil price cap on Russian crude supplies and with Chinese oil demand looking weaker due to rising covid restrictions. Net long positioning for Nymex diesel and gasoline both increased slightly with diesel the highest since the end of August.

  • Nymex WTI net longs increased by -20k to 172k.
  • Nymex diesel increased by +2k to 30k.
  • Nymex gasoline fell by +3k to 60k.

Source: Bloomberg

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