Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. The week ending 20 Sep saw CTA positioning rise across the crude futures alongside oil products albeit still remaining very net short. In crude, we saw Brent and WTI futures clock in a 34% and 39% increase, w/w, to -32.9k lots and -24.5k lots, respectively. This support emerged after CTA positioning approached the “max short” levels recorded in both contracts. Oil products also witnessed a rise in CTA net positioning from last week’s extremely short position. In the middle distillates complex, gasoil and heating oil climbed by 29% and 22%, respectively, to -33k lots each. In gasoline, RBOB futures recorded a 20% increase in CTA net length w/w to -37.8k lots.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
