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CFTC WEEKLY ANALYSIS

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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
31 May 2026

Bearish Buildup

Brent speculative shorts rise for seven consecutive weeks on increasing optimism for Strait reopening; shorts rise across refined products
13 page report
25 May 2026

Anticipating Peace

Speculators turn bearish in Brent on improved ceasefire prospects; Heating Oil net positions fall to 4-month lows
13 page report
18 May 2026

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
13 page report
11 May 2026

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
4 May 2026

Sidelined

Brent open interest falls to 8-month lows; specs add length to refined products; CTA net length rises
13 page report
27 April 2026

Funds Sell Products

Brent sees rising shorts, WTI adds longs; products turn bearish with gasoil weakest.
13 page report
20 April 2026

Bulls Cash Out

Speculators trim length ahead of Trump ultimatum; open interest declines across refined product futures, WTI speculators risk-on
13 page report
13 April 2026

US Risk Exodus

OI drops in WTI, RBOB and USLD with Brent spec more balanced
13 page report
30 March 2026

CFTC Weekly: Long/Short Strategy

Money managers accelerate Brent buying; funds risk-off in WTI; specs cover shorts in Heating Oil
13 page report
23 March 2026

CFTC Weekly: Shorts Out

Fund shorts liquidate Brent and WTI positions, open interest declines for the consecutive week
13 page report
16 March 2026

CFTC Weekly: Interest Exodus

Crude OI fell, Funds' Brent net length -18%. Refined OI dropped, while NatGas saw rising fund length.
13 page report
9 March 2026

CFTC Weekly: Brent Bulls Build Up Length

Brent bulls amass length ahead of US/Israel striking Iran; US Natural Gas shorts accelerate buying
13 page report
2 March 2026