Speculators reduce net-long positions in Brent in Oil & Companies News 16/06/2026 Money managers and hedge funds have reduced their net-long bets on ICE Brent futures in the week to 9 June. Speculators sold about 44,000 lots as of 9 June, decreasing net-long positions in Brent futures to a little short of 209,000 lots. The move was dominated by fresh shorts entering the market. Gross-long positions in Brent futures also decreased by about 27,000 lots during the week, according to futures and options data from ICE Futures Europe. The reduction in net-long positions coincided with growing optimism regarding a potential long-term peace agreement between the US and Iran, which is expected to restore commercial navigation through the Strait of Hormuz. The global oil market has been caught in a tug-of-war between de-escalation efforts and the continued targeting of Middle Eastern energy infrastructure and commercial shipping, resulting in significant volatility in Brent crude futures. When speculators reduce net-long positions, prices tend to decline. Conversely, when they boost these positions, oil prices typically rise, leading to a cycle where their actions can influence oil prices and the market. Source: By Aparupa Mazumder, ENGINE, https://www.engine.online/news 2026-06-16 hellenicshippingnews... tweet Share