Oil Sentiment Perspective

10/23/12 10:48AM EDT

While no major change has occured in our key oil sentiment indicator, bullish sentiment is still correcting off its third spike in two years. On the downside, we’ve seen $80/bbl hold. Who knows when we’ll be able to break that? From a long-term perspective, it appears that hedge funds are still very bullish on crude oil. Between 1995 and 2000 the average net length was +15k contracts; between 2000 and 2010 it was +61k contracts; and the market has not been net short crude oil since 2003. 

Oil Sentiment Perspective  - oilsentiment

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