HomeAction InsightOil N' GoldCFTC Commitments of Traders -Bets on Lower Crude Price Soared

CFTC Commitments of Traders -Bets on Lower Crude Price Soared

According to the CFTC Commitments of Traders report for the week ended October 1, NET LENGTH for crude oil futures slumped -34 843 contracts to 389 319 for the week. Speculative long positions declined -13 664 contracts while shorts jumped +21 179 contracts. For refined oil products, NET LENGTH for gasoline fell -4 056 contracts to 52 410, while NET SHORT for heating oil increased -1 228 contracts to 6 982 for the week. NET SHORT for natural gas futures declined -6 433 contracts to 118 548 contracts for the week.

NET LENGTH for gold futures plunged -43 451 contracts to 268 993. Speculative long positions slipped -47 593 contracts, while shorts dropped -4 142. Silver futures saw decrease in NET LENGTH, by -914 contracts to 49 815. Speculative long positions dropped -4 035 contracts while shorts dipped -3 121. For PGMs, NET LENGTH of Nymex platinum futures declined -8 381 contracts to 26 598 while that for palladium added +189 contracts to 12 806.

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