Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. In the week ending 6 June, CTA net short positions became less negative in crude oil futures (Brent and WTI) alongside refined product futures (gasoil and heating oil). Brent and WTI futures saw a small net change in the week to -20.46k lots and -12.36k lots, respectively. Brent increased by under 8k lots and WTI rose by just shy of 12k lots. In the products, RBOB net positioning remains negative, seeing next to no net change, at -7.8k lots. On the other hand, both heating oil and gasoil saw strong weekly increases to become less negative at -14.1k lots and -10.8k lots.
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