Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. The week ending 15 Oct saw a significant drop in positioning across Brent, WTI, ICE LS gasoil, heating oil, and RBOB gasoline futures. The net long positioning in Brent and WTI futures had risen to the positive handle on 11 Oct and sat on 1.79k lots and 1.89k lots, respectively, on 14 Oct. However, the following day saw positioning drop to -273 lots and -47 lots in Brent and WTI, respectively, and fell further to -12.1k lots and -11k lots on 17 Oct. Positioning remained net short in the refined product futures contracts, but also saw a w/w drop of 46%, 7% and 30% in gasoil, heating oil and RBOB, respectively. As of 17 Oct, positioning stood at -17k lots, -12k lots and -18.6k lots for gasoil, heating oil and RBOB, respectively.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts, in particular, we have seen a further rebound in Money Manager net position in DFLs, while the Money Manager long/short ratio in 380 Crack remains at the lowest since April 2024.
