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- CoT: Fund Managers' Mixed Crude Sentiment
CoT: Fund Managers' Mixed Crude Sentiment
A closer look at fund managers' energy market futures and options positioning
Mobius Intel Brief:
Managed Money Commitments of Traders Positioning: Apr 1, 2025
Fund managers’ net interest in NYMEX Henry Hub fell 15.1k contracts W/W to a total net long position of 25.1k contracts.
Speculators’ net interest decreased by a combined 83k contracts over the four weeks ending April 1.
Exiting length contributed 55.9k of this four-week decrease versus a 27.1k increase in short interest.
Speculative open interest increased 12.5k contracts W/W to 359.1k total. Spec open interest has decreased by 28.7k contracts over the trailing four weeks of Commitments of Traders data.
Fund managers’ net interest in ICE Brent, Gasoil, NYMEX WTI, ULSD, and RBOB gained a combined 73.3 MMb W/W to a total net long position of 450.2 MMb.
Money managers’ net futures and options interest increased for Brent (+56.1 MMb), WTI (+2.8 MMb), ICE gasoil (+4.2 MMb), and RBOB (+10.3 MMb). Money managers’ net interest fell for NYMEX ULSD (-0.12 MMb).
Brent: Net length increased 56.1 MMb W/W to a total net long position of 318.2 MMb. Money managers’ long interest gained 62.7 MMb W/W versus a 6.6 MMb W/W decrease in short interest.
WTI: Net length was little changed after a 2.8 MMb W/W increase to a total net of 94.6 MMb. Length increased 1.7 MMb W/W while shorts fell 1.1 MMb.
Gasoil: Net interest gained 4.2 MMb W/W to a net short position of -2.0 MMb. Speculative length added 3.5 MMb W/W versus a 0.7 MMb weekly decrease in short interest.
ULSD: Net interest was little changed week-on-week, falling 0.12 MMb to a net short position of -5.2 MMb. Speculative short interest increased 2.4 MMb W/W while length fell 2.3 MMb over the seven days ending Apr 1.
RBOB: Net length increased 10.3 MMb W/W to a net long position of 44.6 MMb. Money managers’ long interest gained 5.4 MMb while shorts fell 4.9 MMb.
