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CFTC Commitments of Traders – Traders Increased Bet for Rising Crude Oil Price

According to the CFTC Commitments of Traders report for the week ended March 5,  NET LENGTH for crude oil futures soared +21 130 contracts to 348 801 for the week. Speculative long positions rose +11 421 contracts while shorts declined -9 709. For refined oil products, NET LENGTH for gasoline fell -9 698 contracts to 83 866, while NET SHORT  for heating oil gained +3 942 contracts to 12 770 contracts for the week. NET SHORT for natural gas futures added +1 836 contracts to 49 352 contracts for the week. Yet, bets for both longs and shorts gained for the week.

 

On the precious metal complex, NET LENGTH for both gold and silver futures declined last week. For the former, speculative long positions plunged -34 207 contracts, while shorts rose 13 471, resulting in an fall in NET LENGTH, by -4 7678 contracts, to 88 018 contracts. For silver futures, speculative long positions slipped -14 017 contracts while shorts jumped +11 775. These resulted in a fall in NET LENGTH, by -25 792 contracts, to 32 521 contracts.  For PGMs, NET LENGTH of Nymex platinum futures increased +5 718 contracts to 21 463 while that for palladium slid -636 contracts to 13 628.

 

 

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