Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. CTA positioning flipped short in the week ending 11 Aug, falling from 19k lots on 4 Aug to -48k lots by 11 Aug. This marks the lowest level since 10 June. Brent and WTI futures were driving the decline, with the former seeing the most bearish positioning out of the futures benchmarks. In contrast, despite weekly declines in gasoil and heating oil positioning, they see the most bullish positioning out of the oil benchmarks, at -4.8k lots. Looking at the rate of change of CTA positioning, levels have picked up over the past week. The weekly average of daily positioning changes is at its highest level since June.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
