Speculators increase net-long positions in Brent
Money managers and hedge funds have increased their net-long bets on ICE Brent futures in the week to 15 September.
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Speculators bought a little short of 17,000 lots as of 15 September, increasing net-long positions in Brent futures to over 282,000 lots.
The surge in net-long positions marks the second consecutive week of rise. Gross-long positions in Brent futures increased by more than 3,900 lots during the week, according to futures and options data from ICE Futures Europe.
“Speculative positioning remains firmly bullish,” two analysts from ING Bank said, noting that the latest figures mark the largest net-long positions held since late May 2026.
The increase in net-long bets comes as hopes of a diplomatic breakthrough between Washington and Tehran falter, keeping commercial navigation through the Strait of Hormuz choked.
Brent crude’s price has remained elevated amid incessant attacks on critical energy infrastructure and fading hopes of a US-Iran peace deal.
Commenting on the latest data, ING Bank’s analysts said, “the increase was driven largely by short covering as investors continue to price in greater upside risk from Middle East supply disruptions.”
When speculators boost net-long positions, prices typically rise. Conversely, when they reduce these positions, oil prices tend to decline, leading to a cycle where their actions can influence oil prices and the market.
By Aparupa Mazumder
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