Martha Dowding
Research Associate, Flux
Our reports are now published by The Officials, and accessible through the Flux platform. Login to Flux 4.0 to view them, or visit The Officials website to learn more and sign up to a free trial.
Brent Buying
Funds buy Brent, boost HO, but stay risk-off in WTI, gasoil and nat gas.
Open interest in Brent futures rose following 7 weeks of drops. OI rose by around 0.32%, failing to recoup the drop from the week prior...
- There was a significant reversal in fund positioning. Managed money length increased by 20%, this is the first increase in seven weeks and the largest percentage increase in fund length since the week to 28 Oct. There was a significant -10.44% drop in fund short positions this week. Short fund positions in Brent are the lowest in 5 weeks. This reversal in positioning has allowed for the managed money long-to-short ratio in Brent to rise from the 4th to over the 12th percentile for all weeks since 2013
- In the week to 14 Jul, WTI saw a second w/w drop in interest, with a w/w -1.59% drop in OI. Managed money players were risk-off. Funds continued to slash their length in WTI for the fourth week, with a -6.19% drop in overall length. This is the largest percentile decrease in fund WTI length since the week to 23 Sep. Funds removed -7.66% of their short positions. This larger removal of short positions brought the managed money net position to above the 14th percentile, from the 12th last week, for the weeks since 2013. h bias that we’ve been seeing over the past few months.
Premium Content
Our reports are now part of The Officials, and available exclusively on the Flux platform. Existing customers can Login to Flux to access them, or you can visit The Officials to sign up for free trial access.
Written by
About CFTC Weekly Analysis
A premium report providing clear transparent analysis of CFTC positioning
Related News
Holding the Fort
We have seen a shift in paper flows otherwise, with notable selling in the 19-23 and 26-30 Oct vs Cal Nov rolls....
Brent recovers from below $100/bbl, UKMTO reports attack on tanker transiting outbound Hormuz
Russia's Volgograd refinery (280kb/d) reportedly halted its crude processing on 02 Oct, while Russia has reported that it hit a tanker....
Accumulation
Poor liquidity in Dubai crude complex amid Chinese holiday; Brent/Dubai finds support at lows
Brent falls to $98 as rising Mideast exports weigh on sentiment
Brent falls to $98 as rising Middle East exports ease supply anxieties; South Africa gasoline prices hit record high