In the week ending 22 Apr, the benchmark crude futures contracts (Brent + WTI) witnessed a bullish shift in sentiment, following two bearish weeks. Long-positioned money managers added a total of 21.6mb (5.55% w/w). At the same time, short-positioned players were seen removing 54.9mb (-25% w/w) from their positions. There was an addition of length in both contracts, but this was slightly more considerable in the US benchmark, which saw a 9% addition compared to a 3% increase in Brent. Brent saw a smaller removal of shorts, too. This allowed for the combined long positioning to increase by 21.7mb (5.55%) and the combined short removal of 54.9mb (-24.6%)
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