Hedge funds and money managers have increased their bullish positions in Brent crude oil futures and options, with net long positions rising by 53,586 contracts to 151,144 in the week ending May 13, marking the highest level since April. Long-only positions in Brent rose by 43,968 contracts, while short-only positions fell by 9,618. Conversely, in WTI crude oil futures and options, money managers reduced their net long positions by 4,650 contracts to 139,288, with long-only positions declining by 11,007 and short-only positions falling by 6,357. Other reportable traders increased their net length in WTI by 14,857 contracts. The increase in bullish bets on Brent crude coincides with easing trade tensions between the world’s two largest economies. Analysis of small non-reportable traders indicates that when their net long positions become large, it often signals a peak in oil prices. The latest data on crude net positioning for both Brent and WTI futures and options is current as of May 13, 2025.