Brent crude oil is currently priced at $72.14 per barrel, showing a slight increase of $0.17 (+0.24%) for the day. However, behind this small rise is a much larger story unfolding in the oil markets. According to energy investor and market commentator Eric Nuttall, the financial demand for oil, known as "net length," has dropped to its lowest point in history.
Essentially, "net length" refers to the difference between the number of investors betting oil prices will rise (long positions) versus those betting they will fall (short positions). When…Oil Net Short For First Time in History
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