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WTI Net Longs to Lowest in Two Years

OIL

Commitment of traders reports released late on Friday showed a reduction in US oil net longs but a rise for European oil markets.

  • Manged money net longs in Nymex WTI have fallen to the lowest since April 2020 after showing a decrease of 32k to 234k in data release late last week.
  • Nymex diesel also reduced net longs by 3.7k to 15.2k as demand concerns have weighed on oil prices although diesel crack spreads are still at very high levels.
  • Brent net longs however continued to rise with upside supply risks still feeding uncertainty in the market. ICE Brent increased 10.5k to 239.3k.
  • ICE Gasoil net longs showed a small increase by 3.3k to 79.1k.
Energy BulletsCommodities
Energy BulletsCommodities

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