Crude net long positions mostly set before war, Andreas Steno Larsen notes

Crude net long positions mostly set before war, Andreas Steno Larsen notes
Strait reopening seen driving crude lower

Andreas Steno Larsen, founder & CEO, highlights that the Wall Street consensus expects the Strait to reopen within days, which could sharply reduce crude prices.

He also points to a chart showing that most net long positions in crude among managed money and large speculators were established before the onset of the war.

In recent coverage, Andreas Steno Larsen observed that the 10-year Treasury yield closed at 4.60%, near its high under President Donald Trump, in a previous article. He also noted opportunities seen by Trump as 10-year yields and Brent futures reached new highs, as reported in another update. These observations provide context for current developments in the crude oil market.

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