Brent Crude Net-Longs Rose By 20 Percent Last Week
Saxo Bank | Dec 02, 2013 08:36AM ET
Hedge funds increased their bullish bets on Brent Crude by 22,380 contracts of futures and options to 129,761 during the week ending November 26, according to data from the ICE Europe Exchange. The increase was a result of gross longs increasing and gross shorts being reduced. Gas oil net longs rose by 20,214 contracts to 73,767 contracts.
Despite the strong price bounce in Brent Crude during November, the gross short position remain elevated with many investors remaining content to trade it from the sell side.
Source: ICE Exchange, Bloomberg and Saxo Bank
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