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CFTC Commitments of Traders – Bets for Higher Crude Oil Price Continued to Fall

According to the CFTC Commitments of Traders report for the week ended September 3, NET LENGTH for crude oil futures fell -7 493 contracts to 384 157 for the week. Speculative long positions dropped -4 525 contracts and shorts gained +2 968 contracts. For refined oil products, NET LENGTH for gasoline declined -13 771 contracts to 46 760, while NET SHORT for heating oil increased +5 506 contracts to 6 439 for the week. NET SHORT for natural gas futures plunged -15 741 contracts to 170 860 contracts for the week.

NET LENGTH for gold futures rose 3 709 contracts to 300 547. Speculative long positions added +2 776 contracts, while shorts dropped -933. Silver futures also seen increase in NET LENGTH, by +2 273 contracts to 62 125. Speculative long positions rose +1 489 contracts while shorts slipped -784. For PGMs, NET LENGTH of Nymex platinum futures jumped +10 172 contracts to 33 159 while that for palladium gained +1 266 contracts to 11 071.

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