Money managers have abandoned positioning for $200 oil ... does this now increase the risk of $200 oil? ----- The CFTC was closed today, so the Commitment of Traders report for June 16 will be released on Monday. But the Intercontinental Exchange released its data for London's Brent Crude Oil Contract for June 16 today. Here is the net (long-short) for managed money (aka "money managers"). The chart starts on April 30, 2020 (beginning of the post-COVID recovery). In the last four weeks, these managers went from a fairly long position (see the May 19 position in the bottom panel) to a fairly low net long position (June 16). Note that these managers are rarely net short (below zero). @CommodMkt @Rory_Johnston(Jim Bianco)