In the week ending 12 November, money managers added length to their positions in both Brent and WTI crude futures. Following Donald Trump’s election victory, we saw Hurricane Rafael divert course from the US Gulf Coast, leaving oil infrastructure unscathed, while weak Chinese oil demand continued to put pressure on the market. Managed-by-money players added 14.5mb (+3.6%) w/w and 42.8mb (29.3%) to their long and short positions, respectively. As a result, overall net positioning across Brent and WTI futures decreased by 27mb (-10.5%) w/w, bringing money managers long:short ratio to 2.27:1.00 compared to 2.83:1.00 for the week to 05 November
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