Flux Markets | Bullish spec changes across the board (2) Skip to main content

Bullish spec changes across the board (2)

We anticipate money managers to add longs to ICE Brent futures in the week ending 05 May...
Published: May 7, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
8 page report
Share

In the week ending 05 May, we saw the now-M1 Jul'26 Brent futures contract extend its rally further to highs over $115/bbl, as momentum picked up with markets reacting to a deteriorating ceasefire environment. Money managers are therefore expected to increase their net length in Brent, adding longs and trimming short positions.

Premium Content

To continue reading this page, please login or find our about our subscription options.

Related News

What a Peace-take….

See all the updates across the barrel, as well as six contracts to watch.
6 reports

Brent Dips Below $100/bbl

Brent volatile; US–Iran deal unclear; India refinery maintenance; HPCL buys Oman crude; US gasoline tops $4.50/gal
4 page report

Brent Drops to $104/bbl

Donald Trump pauses Hormuz mission for Iran talks; conflict lifts Equinor profits; NZ seeks fuel storage abroad.
4 page report

Brent Declines to $110.09/bbl

Peace talks progress; Hormuz risks grow; Chevron warns of shortages; Russian refinery shut; ships pile up near Dubai
4 page report