This week’s CFTC Weekly Analysis covers the week to 24 December, with the delayed release of CFTC data for the week to 31 December to be covered in our following report.
In the week ending 24 December, money managers were risk-off in Brent while adding length to their long positions in WTI. With crude oil markets quietening down for the holiday season, we saw proportionately lower positional changes in the latter half of December, alongside ongoing uncertainty surrounding the incoming Trump administration’s policies and China’s oil demand outlook heading into 2025. RBOB futures saw a reduction in money manager long positions for the week to 24 December, while gasoil and heating oil futures showed a clear buy-side skew among speculative players.
