🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Brent Crude Bullish Bets At 15-Month Low

Published 02/10/2014, 10:44 AM
Updated 07/09/2023, 06:31 AM

Hedge funds scaled back their net-long position in Brent crude by 13,995 contracts during the week ending February 4 according to the ICE Europe futures exchange. This left the net-long at 84,276 contracts of futures and options, the lowest level in 15 months. The change was driven by an equal reduction of longs and new additions of shorts which left the price exposed to any price strengths. This also helps to explain the rally seen on Friday when the established range was broken to the upside.

Brent Crude/ Gas Oil Speculative Positions

Brent Crude: Speculation

Source: IceExchange, Bloomberg and Saxo Bank

Gas Oil: Speculation

Source: IceExchange, Bloomberg and Saxo Bank

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.