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Brent Bears Return

Short spec positions in Brent rise by 17% w/w, RBOB futures net positions rise to 6-week highs; short spec Heating Oil positions rise
Published: May 11, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
13 page report
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In the week ending 05 May, money managers added a significant amount of short positions in Brent futures, rising by 17% over the week.

  • The change in long positions was relatively negligible. The long:short ratio declined from around 6.50:1.00 to 5.55:1.00 over the week, which is a six-week low. Shorts added positions from a relatively low baseline, and it can be deduced that last week's bearish sentiment was driven by the addition of fresh shorts, as opposed to profit-taking flow from longs.

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Written by

Vincent Wu

Research Associate, Flux
Vincent Wu

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