Soybean Oil Breaks Higher, Paranaguá FOB Must Break Lower
Crude moved higher into the weekend with prices and speculative positioning aligned. Brent reached $87.65/bbl, WTI traded near $82.15/bbl, and Brent Aug/Dec widened to $4.86/bbl. Money managers raised Brent net length by 114,752 contracts to 169,839, driven by 75,996 new longs and 38,756 shorts covered. Gold followed crude higher, confirming broader geopolitical protection ahead of the weekend. Hormuz remains severely impaired, with no VLCC or LNG tanker crossing for a second day, although two VLCCs carrying four million barrels reappeared outside the Strait after earlier transits. Bab al-Mandeb remained open with no reported disruption.
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