7 Mar 2016
Bullish oil bets rise to new record high
Weekly futures and options data from InterContinental Exchange released today showed money managers increased their bullish bets on higher oil price to a new record.
Net long positions in Brent crude oil rose by 22,171 lots to 342,460 for the week to March 1. This is the highest since records began in 2011.
Short positions in the week ended March 1 dropped by 25,639 contracts of futures and options to 150,718, the fastest pace since April.
The data clearly shows the investors see supply adjusting to weak oil demand.
Net long positions in Brent crude oil rose by 22,171 lots to 342,460 for the week to March 1. This is the highest since records began in 2011.
Short positions in the week ended March 1 dropped by 25,639 contracts of futures and options to 150,718, the fastest pace since April.
The data clearly shows the investors see supply adjusting to weak oil demand.