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Bulls exit Brent longs

We anticipate ICE COT data for the week ending 21 Apr to show managed-by-money players liquidating nearly 6.8mb from their long positions...
Published: April 23, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
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On 17 Apr, the M1 Brent futures contract dropped from $98/bbl to a low of $86/bbl on the back of news that the Strait of Hormuz will be re-opened for commercial vessels. Prices found a floor here and ultimately climbed above $100/bbl, despite an indefinite extension of the ceasefire between the US and Iran until both parties agree to a deal. The Strait of Hormuz remains blocked by both nations....

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