Research

Oil Primed for a Squeeze if War Heats Up

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Algo Research Team

Market | Oct 22, 2024 | Views: 537

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Key Summary:

  • Lowest oil futures positioning past 15 years
  • Positive for oil if war hits supply outlook
  • Different scenarios of attacks to $70-$150

Contracts in futures markets indicate that investors and traders are highly bearish on oil with the lowest net positioning levels in the past 15 years.


This is happening as supply remains plentiful while demand is subdued. Moreover, although tensions are escalating in the Middle East, they have not meaningfully disrupted the supply outlook.

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