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Blue Lacy Advisors, LLC, - Middle of November Crude Oil Market Commentary

Minneapolis, MN | November 14, 2022 | By: Steve Sinos, Blue Lacy Advisors, LLC

Crude Oil

Despite being a volatile week for prices, we are still facing the same fundamental balances as last week. Most of the action seems to have been driven by expiry and even the models are calculating the same projected volatility for the upcoming weeks.

Positioning was more bullish this week than in recent weeks. Speculative traders abandoned more shorts and added more longs. Many traders are holding long positions (in the top decile), but that translates into an average of 2,475 lots long, which is near the bottom of the distribution. So, it appears to be a tentative bunch that holds the net long position of 41k contracts.

*This summary is based off November 7, 2022

A free excerpt, such as this one, will be published on a delay periodically. This is an excerpt from Blue Lacy Advisors, LLC's (“Blue Lacy”) weekly commentary for clients, which is based on a collection of models, research/analytical subscriptions, and bespoke work. Each week Blue Lacy explores how market drivers included in these analyses might affect or be used in clients' planning, budgeting, and execution of strategy. Call Blue Lacy to make an appointment today!


Meet the Author!

Phone: +1-832-413-3124

Steve has spent his career in strategy, risk, trading, and investment. He works with investors to source investments in opportunistic or high growth sectors, with particular interest in early-stage companies solving clearly defined problems.

He is currently a Managing Partner with Blue Lacy Advisors LLC, giving management teams and investors confidence in their decision making by supporting strategic planning and execution, risk management, commodity trading, and market analysis.

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