In the week ending 07 Jan, managed-by-money participants continued their bullish stride in Brent, adding 42.5mb to their long positions (+15%) while removing 0.8mb from their shorts (-0.9%) w/w. This change in positioning took the total net length in the benchmark crude futures complex to just shy of 238mb, its highest value since early May 2024. The managed-by-money long:short ratio climbed 16% w/w to 3.73:1.00, just under the 45th percentile for all weeks since 2013
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