Funding funds lowered their internet lengthy publicity in TTF pure fuel by 32.8TWh to 127.5TWh final week. Nonetheless, the current rally in European fuel costs suggests fund positioning might have rebounded because the reporting cut-off, ING’s commodity consultants Ewa Manthey and Warren Patterson observe.
TTF lengthy positions dip, however market doubtless rebuilding
“The most recent positioning information reveals that funding funds minimize their internet lengthy in TTF pure fuel by 32.8TWh to 127.5TWh over the past reporting week. Nonetheless, given the energy seen in European fuel costs thus far this week amid secondary tariffs issues about Russian vitality, the present fund place is probably going considerably bigger.”
