Looking at Flux Insight’s CTA positioning, Brent futures reached its high of -24.2k lots on 10 Oct, before drifting downwards to reach -34.6k lots on 14 Oct. Middle distillate positioning also retreated in the week ending 14 Oct, seeing Heating Oil fall from -7.6k lots on 10 Oct to -9.9k lots on 14 Oct while ICE gasoil fell from -6.2k lots to -21.1k lots over the same period. Like Brent, RBOB futures have also trended downwards; from an index perspective, RBOB futures are nearing the oversold territory, highlighting the possibility of a bullish reversal.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
