Mobius Intel Brief: Speculators’ Recap
Natural Gas: Last week’s CFTC Commitment of Traders report revealed a significant shift in Henry Hub speculators’ net positioning, dropping by 251 billion cubic feet (bcf) to 162.6 bcf. Managed money bulls reduced their positions by 69 bcf, while shorts re-entered the market with 182.2 bcf of bearish bets, marking the first increase in short holdings in five weeks.
Crude Complex: Following last week’s OPEC news, WTI saw a significant increase in short positions, with speculators adding 18.3 million barrels week-on-week, the largest since mid-April. Concurrently, long positions were trimmed by 30.8 million barrels, wiping out most bullish bets from the prior weeks.
Analyzing Long/Short Trends in Energy Markets
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