For the week to Apr 02, the combined positions by money managers in Brent and WTI showed a return to bullish positioning, overall. The combined long positions increased by 20mbbls (3.29%), with both Brent and WTI seeing funds increasing their buy-side risk. There was a similar closing of sell-side positions too, which fell by 1.6mbbls (1.37%).
As a result, total money managers’ net positioning strengthened by 21.8mbbls (+4.39% w-o-w) this week, compared to the previous week’s increase of just 5mbbls.
Prod/merc participants in Brent and WTI reversed their risk-on appetite seen in the week to Mar 26, as both long and short positioned players removed their positions in the week to Apr 2, by 91.7mbbls and 91.5mbbls respectively.
