CFTC: WTI Crude Net Long Falls 2,571 Lots; Brent-WTI Combined Hits 17-Week High

The divergence is the story: WTI longs were trimmed even as the combined Brent-WTI position climbed to a 17-week high, implying the build was concentrated in Brent rather than broad-based crude enthusiasm. The offsetting moves in refined products and gas — gasoline longs at a three-week low, gas shorts at a six-week high — suggest positioning is rotating rather than uniformly bullish. Whether that split persists into the next reporting week is the open question.