Money Managers’ Positions in Crude
For the week to May 28, we saw differing positions adopted by money managers, whilst prod/merc players were similar in their risk-on sentiment across the two benchmarks.
Both Brent and WTI futures saw prod/merc players be risk-on in their approach in the week to May 28, although this sentiment was skewed towards the bearish side, especially in WTI. 48.4mbbls and 14.9mbbls were added to long positions in Brent and WTI by prod/merc players, respectively, whilst they also added 51mbbls and 30mbbls in short positions.
Across Brent and WTI futures, we saw an addition of 63.5mbbls in long positions and 81mbbls in short positions from prod/merc players, whilst money managers added 14.7mbbls in longs but removed 24.6mbbls of shorts across both crude benchmarks.
Open interest rose by 13.4mbbls (+0.5%) in Brent and a far greater 49.3mbbls (+2.8%) in WTI.
