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Bullish Oil Bets Shrink for a Second Week Running, COT Data Show
Market Intelligence Analysis
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Why This Matters
Financial market analysis indicating bearish sentiment based on current trends.
Sentiment
Bearish
AI Confidence
60%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Money managers have reduced their bullish bets on both Brent and WTI crude futures over the past two weeks despite little progress on a potential reopening of the Strait of Hormuz. In the latest reporting week to August 4, portfolio managers trimmed their net long position in NYMEX WTI by 7,257 lots to 101,050 lots, data from the exchanges found. The net long position, the difference between bullish and bearish bets, in ICE Brent crude oil futures was slashed by 11%, or by 20,361 lots to 164,722 lots. This was the second consecutive weekly decline…
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AI Breakdown
Summary
Financial market analysis indicating bearish sentiment based on current trends.
Time Horizon
Short Term
Original article published by
OilPrice.com
on August 10, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.