Brent crude and Gas oil speculative longs both rising

Hedge funds and other money managers raised their bullish bets on both Brent crude and Gas oil during the week ending October 16 according to data released by the ICE Futures Europe exchange.

The net-long position in Brent crude comprising both futures and options rose by 4.5 percent to the highest level since May 1 while the 6.5 percent increase in Gas oil took the net long back to the highest level on record.