Reported about 9 hours ago
Money managers have accumulated their largest net-long positions in Brent oil in eight months, driven by a colder winter and expectations of reduced Iranian oil flows. The announcement of new sanctions against Russia's energy sector may further increase these positions, which have already reached nearly 227,000 lots as of January 7. This surge reflects heightened energy demand in Europe and the US, impacting both diesel and heating oil contracts.
Source: YAHOO