CFTC WEEKLY ANALYSIS
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Producers/merchants were risk-off in Brent futures, removing 102mb (-11%) and 141mb (-9.5%) from their longs and shorts respectively....
13 page report
Bearish Funds Flock To Crude Futures
Speculative shorts in crude futures positions highest since the start of Iran war; Open interest declines across refined product futures
13 page report
Bearish Buildup
Brent speculative shorts rise for seven consecutive weeks on increasing optimism for Strait reopening; shorts rise across refined products
13 page report
Anticipating Peace
Speculators turn bearish in Brent on improved ceasefire prospects; Heating Oil net positions fall to 4-month lows
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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
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Risk On, Risk Off
Money managers risk-on in Brent, long prod/merc positions down 20% since start of conflict; OI drops in gasoil and RBOB
13 page report
Sidelined
Brent open interest falls to 8-month lows; specs add length to refined products; CTA net length rises
13 page report
Funds Sell Products
Brent sees rising shorts, WTI adds longs; products turn bearish with gasoil weakest.
13 page report
Bulls Cash Out
Speculators trim length ahead of Trump ultimatum; open interest declines across refined product futures, WTI speculators risk-on
13 page report
US Risk Exodus
OI drops in WTI, RBOB and USLD with Brent spec more balanced
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CFTC Weekly: Long/Short Strategy
Money managers accelerate Brent buying; funds risk-off in WTI; specs cover shorts in Heating Oil
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CFTC Weekly: Shorts Out
Fund shorts liquidate Brent and WTI positions, open interest declines for the consecutive week
13 page report
CFTC Weekly: Interest Exodus
Crude OI fell, Funds' Brent net length -18%. Refined OI dropped, while NatGas saw rising fund length.
13 page report