- Mobius Market Research
- Posts
- CoT: WTI Shorts Return After Two-Week Exit
CoT: WTI Shorts Return After Two-Week Exit
A closer look at fund managers' energy market futures and options positioning
Mobius Intel Brief:
CFTC/ICE Commitment of Traders data through March 18, 2025
Fund managers’ net interest in NYMEX Henry Hub fell 26.7k contracts W/W to a net long futures and options position of 64.8k contracts.
Speculators’ net interest decreased by a total 43.3k contracts in the two weeks ending March 18.
Long exits led this two week change as money managers’ length dropped 46.5k contracts over the two weeks ending Mar 18 to 201.5k total.
Shorts removed 3.2k contracts over the same period.
Specs’ open interest fell 49.7k contracts between Mar 4 and Mar 18.
Fund managers’ net interest in ICE Brent, Gasoil, NYMEX WTI, ULSD, and RBOB gained a combined 26.4 MMb W/W to 291.6 MMb total.
Money managers’ net futures and options interest increased for Brent (+52.9 MMb) and RBOB (+23.2 MMb). MM net interest fell for WTI (-19.3 MMb), ULSD (-15.7 MMb), and Gasoil (-14.6 MMb).
Brent: Net length +52.9 MMb to 206.1 MMb from 40.4 MMb of new long interest to 288.1 MMb and a 12.5 MMb decrease in money managers’ short interest to 82.0 MMb.
WTI: Net length -19.25 MMb to 96.5 MMb from a 5.3 MMb W/W increase in long interest to 175.5 MMb and a 24.6 MMb W/W increase in new shorts to 79.0.
Gasoil: Net interest fell 14.6 MMb W/W to a net short position of -27.8 MMb. Gasoil net interest fell 48.4 MMb over the three weeks ending Mar 18.
ULSD: Net interest fell 15.7 MMb W/W to a net short position of -12.5 MMb. ULSD net interest fell 30.5 MMb over the three weeks ending Mar 18.
RBOB: Net length gained 23.2 MMb W/W to 29.2 MMb, led by -17.2 MMb short interest and +5.9 MMb long interest.
