1 Sep 2020

JBC in the Media - OPIS

Funds Flip to Bearish Bets in European Distillates: ICE Data

"Meanwhile, managed-money positions in Brent futures and options saw a 4,132-lot rise in net length.

Bullish bets increased by 8,303 lots, pushing them to a five-month high, but bearish bets also climbed, adding 4,171 lots.

Funds were left holding 292,088 long lots and 84,140 short lots in Brent futures and options.

'The weekly changes in these contracts were fairly unspectacular and there simply remains little reason to get optimistic about either crude or distillates just yet,' said Philip Jones-Lux, energy market analyst at JBC Energy."