Svmuu News According to data from ICE Futures Europe for the week of March 10, as the crude oil market enters its most volatile period on record, hedge funds' bullish sentiment towards Brent crude has reached its highest level in six years. The data shows that money managers increased their net long positions in this global benchmark by 65,438 contracts to 351,032 contracts. This is the highest level since February 2020. Meanwhile, data from the U.S. Commodity Futures Trading Commission indicates that bullish bets on U.S. crude oil have risen to an eight-month high. The conflict in the Middle East has nearly halted traffic in the Strait of Hormuz for nearly two weeks, catching market participants off guard with prolonged supply disruptions. The seismic shock to the energy market has forced major crude producers in the region to cut output, while some refiners have defaulted on contracts. In the financial derivatives market, several volatility indicators have surged to their highest levels since the Russia-Ukraine conflict. In response, algorithmic traders have increased their long positions to the limit, while options trading has been suppressed as dealers reduce their risk exposure. (Jin10)