Dec 30, 08:38 PM

Money Managers Adjust Crude Oil Positions: Brent Down 30,996 Contracts to $73.26, WTI Up 21,693 Contracts to $70.15

In the week ending December 24, 2024, money managers reduced their net-long positions in Brent crude oil futures and options by 30,996 contracts to 153,845. This decline was attributed to a 17,354 reduction in long-only positions, while short-only positions increased by 13,642. Conversely, net-long positions in WTI crude oil futures and options rose by 21,693 contracts to 182,895, driven by a significant increase of 21,638 in long-only positions, with short positions remaining largely unchanged. Overall, speculators were net sellers of Brent and WTI contracts, with a total of 9.3 million barrels sold, influenced by a rise in fresh short positions. The Brent future price saw a minor increase of $0.11, closing at $73.26, while WTI prices rose by $0.44 to $70.15.

#Brent #WTI

Written with ChatGPT (GPT-4o mini).