Net long speculative positions in diesel and Brent crude both declined.

According to data released by Intercontinental Exchange, in the week ending September 22, speculative traders in the diesel market reduced their net long positions by 3,835 contracts, bringing the current net long position to 90,831 contracts. Meanwhile, speculative traders in Brent crude oil also trimmed their net long positions, reducing them by 64,543 contracts, with the adjusted net long position now at 218,114 contracts. The collective reduction of net long positions by speculative funds in these two energy products typically reflects that related traders have, to some extent, lowered their bets on further price increases for diesel and Brent crude oil in the short term. The trends in these position changes will also become one of the important indicators for observing the sentiment direction in the energy market.