Jun’25 Brent futures rebounded this week, rising up to $65/bbl by 15 April and is on track for a weekly gain. Prices stabilised in the mid 60s as the market seeks a new equilibrium at these levels. Onyx’s weekly CFTC COT predictor forecasts money managers to increase their net length in Brent futures. However, we forecast speculators to add shorts to Gasoil and RBOB futures for the second consecutive week.
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