CTA selling activity hits crude oil markets – TDS
Source Fxstreet
Large-scale CTA selling activity is hitting the tapes in crude oil markets, TDS Senior Commodity Strategist Daniel Ghali notes.
CTAs to shed their entire position long in Brent crude
“We expect CTAs to shed their entire position long in Brent crude this session and build a net short position, with additional scope to sell WTI crude over the coming week in a downtape scenario for prices.”
“Our statistical analysis of energy supply risks also suggest that supply risk premia is seeping out of energy markets once again, suggesting traders are curiously disregarding the risk of geopolitical aggressions ahead of the weekend.”
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