Investors build bullish position on petroleum
January 20, 2025
Energy markets are closed today and there are no forward contracts available today.
The energy markets have continued to push higher on the bullish narratives of more sanctions on Russia tightening up supplies, China stimulus measures helping their economy improve and with its energy demand, a better outlook for the US economy and its energy demand, and the current cold weather.
John Kemp of John Kemp Energy reports that investors have built the most bullish position in petroleum for almost nine months, anticipating US sanctions will reduce exports from Russian and Iran, and cause inventoried to delete even faster.
Today’s comments are brief as almost all traders are off today for the MLK Holiday, and energy markets are closed.