Money Managers’ Positions in Crude
For the week to Apr 09, we saw money managers add to both their long and short risk in the both Brent and WTI futures. The combined long positions in the crude futures increased by over 23mbbls (+3.67% w-o-w) whilst the combined short positions in both contracts swelled up by over 14.5mbbls (+12.45%).
As a result, while total net positioning increased by 8.8mbbls to 528mbbls, this increase was less pronounced relative to the week to Apr 02’s increase by over 21.8mbbls. Still, total positioning is currently at its highest since September 2023.
Prod/merc participants in Brent and WTI were also more risk on this week, reversing the week previous’ risk off sentiment. These players added a combined 77mbbls to their long positions and 67.5mbbls to their shorts.
