Institutions are piling into crude oil longs:



Hedge fund long positions on Brent crude oil futures surged +65,438 lots in the week ending March 10th, to 351,032, the highest since February 2020.

Long positioning has surged +966% since December, the biggest increase in at least 6 years.

Meanwhile, bullish bets on WTI crude oil rose to an 8-month high, according to CFTC data.

CTAs, the algorithm-driven trend followers, are now 100% long in both WTI and Brent futures.

This is the first time this has occurred in US crude oil since September 2021, when the position lasted 26 trading sessions.

Is the oil trade too crowded?
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin