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Our team of skilled analysts, by utilising the depth and breadth of Onyx's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.

Onyx CFTC Style COT Reports – 10 Feb 2025

Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. Over the past fortnight, we saw CTA net positioning become increasingly bearish and flip negative, falling from around 28.7k lots on 28 Jan down to -31k lots on 10 Jan. Brent futures positioning accounted for the majority of this decline, decreasing around 270% over the fortnight down to -15k lots. Meanwhile, WTI saw a similar trajectory, falling from 6.9k lots on 28 Jan down to -13.7k lots as of 10 Feb. Heating oil positioning remained above 0 while the rest of the products dipped below, with ICE gasoil showing the most bearish net positioning at -3.2k lots on 10 Feb. RBOB was the only futures contract where positioning became more bullish this fortnight, rising around 130% up to -2.8k lots, however, still remains the second lowest on the positioning model.

Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.

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Our team of skilled analysts, by utilising the depth and breadth of Onyx's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.