Bloomberg News

Hedge Funds Cut ICE Brent Crude Net-Longs by 11,809 Lots

April 09, 2012

Hedge funds and other money managers cut bullish bets on Brent crude by 11,809 contracts in the week ended April 3, data from ICE Futures Europe showed.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 139,074 lots, the London-based exchange said today in its weekly Commitment of Traders report. The figure marks a 7.8 percent decrease in speculators’ net-long positions from the previous week, according to ICE data.

Bearish bets by producers, merchants, processors and users of Brent outnumbered bullish positions by 198,310 lots, compared with 208,726 last week. Swaps dealers were net-long 36,451 contracts compared with 28,654 a week earlier, the data showed.

Money managers’ net-long bets on ICE gasoil futures and options numbered 80,446 last week, down from 84,146 the week before, according to the report.

To contact the reporter on this story: Lananh Nguyen in London at

To contact the editor responsible for this story: Bruce Stanley at

China's Killer Profits
blog comments powered by Disqus