Bloomberg News

Hedge Funds Raise Brent Oil Net-Longs to Most in Two Months

August 06, 2012

Hedge funds and other money managers raised bullish bets on Brent crude to the highest level in more than two months, according to data from ICE Futures Europe.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 86,065 contracts in the week ended July 31, the London-based exchange said today in its weekly Commitment of Traders report. That’s an increase of 8,555 lots. Net longs were at 91,208 on May 22, the data show.

Bearish bets by producers, merchants, processors and users of Brent outnumbered bullish positions by 176,948 lots, compared with 168,555 last week. Swaps dealers were net-long 91,891 positions, from 94,312 a week earlier.

Money managers’ net-long bets on ICE gasoil futures and options rose to 38,148 positions, compared with 37,801 contracts last week, according to the data.

To contact the reporters on this story: Rachel Graham in London at; Rupert Rowling in London at

To contact the editor responsible for this story: Stephen Voss at

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