Bullish Oil Bets Shrink for a Second Week Running, COT Data Show
Money managers have reduced their bullish bets on both Brent and WTI crude futures over the past two weeks despite little progress on a potential reopening of the Strait of Hormuz. In the latest reporting week to August 4, portfolio managers trimmed their net long position in NYMEX WTI by 7,257 lots to 101,050 lots, data from the exchanges found. The net long position, the difference between…
We haven't written up this one. OilPrice has the full story — the link below goes straight to it.
