broad-based inventory declines

  • Oil

Last week’s crude oil price decline was likely caused by a broad selloff in Brent and WTI futures, as total open interest declined significantly. Looking at ICE Brent futures positioning, every category (managed- money, merchant players, swap dealers) reduced their exposure, as volatility was expected to rise, amid an uncertain OPEC+ production policy. 

open interest, brent

Last week’s crude oil price decline was likely caused by a broad selloff in Brent and WTI futures, as total open interest declined significantly. Looking at ICE Brent futures positioning, every category (managed- money, merchant players, swap dealers) reduced their exposure, as volatility was expected to rise, amid an uncertain OPEC+ production policy. 

Share this news :

You might also read :

ES-economy
April 21, 2022

No clear direction for financial markets

The markets are hesitant, with no clear direction. The EUR/USD exchange rate has risen sharply to 1.09 after statements by ECB members raising the possibility of…
ES-oil
June 27, 2022

G7 leaders talk about Russian Oil

On Friday oil benchmarks moved up. ICE Brent gained 2.8% to settle at $113.12/b, while NYMEX WTI front month went 3.2% higher and closed at…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]