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Speculator Positioning
Fund Positioning: Hostilities Hit Crude Shorts
Speculative interest in Brent and WTI increased at the fastest pace in over a month as renewed U.S.-Iran hostilities drove shorts to the exit. Funds' net interest in NYMEX natural gas declined for the first time in a month as healthy storage and warm winter forecasts continue to limit bullish appetite.
Fund Positioning: Gas Bears Exit on Extended Summer Forecast
Speculative short interest in NYMEX natural gas fell at the fastest pace in over two months as forecasts for the first half of September picked up material warm revisions. Fund managers' crude complex positioning showed mixed changes, underscoring conflicting sentiment about the fate of Middle East supplies.
Fund Positioning: Length Rebounds on Deal Doubts
Crude shorts hold at extreme highs for the 13th consecutive week, while Brent bulls reprice the odds of a successful Hormuz agreement. Speculative length in NYMEX natural gas jumps at fastest pace since January, while shorts hold at multi-year highs.