Open interest still falling…WSJ – Commodity Research Group

August 24, 2022 by Jim Colburn Leave a Comment

Anna Hirtenstein, Wall Street Journal, writes about the decline in oil open interest, here…

”In another sign of fading investor appetite, open interest, or the number of outstanding contracts, in Nymex-traded oil futures declined to the lowest level since December 2014 last week, according to data from CME Group.

Similarly, bets on rising oil prices made by investors that use borrowed money, such as hedge funds, have fallen away. Net long positions held by leveraged funds in both Brent crude oil and in West Texas Intermediate, the U.S. oil benchmark, have shrunk to their lowest level since January 2016, according to research by Nordic bank SEB.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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