Vincent Wu
Research Associate, Flux
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Bearish Reversal
Speculators trim crude length on greater hopes for a Hormuz reopening; CTA short selling decelerate; natural gas length near 2-year lows
Published: August 10, 2026
Written by:
Vincent Wu
13 page report
Money managers trimmed length in Brent futures in the week ending 04 August, which comes after three consecutive week of adding length.
- Shorts also trimmed length after four consecutive weeks of increases. Although the percentage changes were relatively small (2% and 3%), this marks a reversal of the previous trend, as the reduced intensity of kinetic action and greater hopes for a Hormuz reopening have caused some speculators to reverse course. Overall net positioning declined after reaching a 7-week high.
- In the week to 04 August, there was little change in speculative WTI positioning, but it was a reversal from the previous week's bullish trend. This comes after net positioning last week reached its highest level since late April.
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