In the week ending 27 May, the crude oil futures (Brent and WTI) saw price consolidation. Total managed-by-money length in the two futures benchmarks saw just under 5.0mb added w/w (1.08%) alongside a 17.9mb addition of shorts (9.17%). Brent futures saw players happy to add length in the curve, whereas WTI futures saw a 5.7mb (-3%) reduction in length. Short positions rose in both crude futures, by 15.7mb (13.1%) in Brent and by 2.2mb (2.94%) in WTI. Total combined open interest rose by 63.5mb (1.33%) w/w, which is less than the drop seen in the week prior.
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