Rory Johnston: Brent crude net spec positions see largest weekly pullback of war

Rory Johnston: Brent crude net spec positions see largest weekly pullback of war
Brent crude speculators reduce positions sharply

Rory Johnston highlights that Brent crude net speculative positioning experienced its largest weekly pullback since the start of the war.

He adds that much of the recent crude price pullback could be linked to a rationalization of elevated speculative positioning levels. Johnston is awaiting confirmation from the CFTC at 3:30 p.m. ET.

Earlier this year, Rory Johnston noted oil markets often overreact to geopolitical risk and called recent reactions surprising given initial market conditions, according to a previous post. Brent crude December futures had recently touched crisis highs, with tighter inventories driving prices higher in long-dated contracts, Johnston reported in another article. The recent adjustment in speculative positioning comes after these heightened levels.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Weekly Top Bonuses
up to $2,500
deposit bonus for all clients
CLAIM BONUS
Your capital is at risk.