Latam's stake in systematic flows: What CTA positioning means for commodity markets

On April 8, Brent fell 13% following ceasefire headlines, triggering approximately 8.9 million barrels of systematic CTA selling. Just nine days later, on April 17, Brent declined another 9% after Iran declared the Strait of Hormuz open. This time, systematic selling reached roughly 54 million barrels in a single session. Despite similarly sharp price declines, ...