The CFTC (Commodity Futures Trading Commission) published Commitments of Traders data on 24 July showing managed money on the Brent Last Day contract, code 06765T, holding 15,665 lots long against 1,410 short for the week to 21 July, a net long of 14,255 contracts1. The CFTC is the US derivatives regulator, and its weekly report is the only public census of who owns the paper behind the price. Managed money covers hedge funds and commodity trading advisers, the fast money that moves first.
The prior week's print showed a 12,537-contract net long on the same contract, so the week's change was about +1,700 contracts. Managed money has held a net long on Brent Last Day in every weekly CFTC report from 21 April.
Shorts rose to 1,410 lots from 604 while gross length grew to 15,665 from 13,141, so the book added length into strength rather than covering shorts. A further leg higher needs more buyers; the book is still small.
One timing caveat belongs on the record. The report covers the week to 21 July and was released 24 July, three days before this window opened, so the print predates the give-back that followed the strike-pause reports. Two markets read the same Red Sea risk in opposite directions inside the same seven days: underwriters priced Saudi-linked hulls as uninsurable while the funds bought.
