Squeeze Risk? Outright Oil Shorts Reach Record High

A preliminary agreement between the US and Iran intensified Managed Money Brent Oil selling according to Commitment of Traders. 

As Goldman's top futures trader, Robert Quinn, points out, Managed Money sold -$7.5bn during June 9th -16th, marking the largest nominal amount since Liberation Day and 7th consecutive week of sales for a cumulative -$24.8bn.