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CFTC Commitments of Traders – Bets for Higher Oil Prices Increased as Market Sentiment Improved

According to the CFTC Commitments of Traders report for the week ended October 22, NET LENGTH for crude oil futures soared +9 288 contracts to 366 172 for the week. Speculative long positions jumped +12 545 contracts while shorts added +3 257 contracts. For refined oil products, NET LENGTH for gasoline gained +3 139 contracts to 61 928, while NET SHORT for heating oil increased +4 413 contracts to 5 103 for the week. NET SHORT for natural gas futures jumped +23 612 contracts to 209 077 contracts for the week.

NET LENGTH for gold futures gained +6 105 contracts to 259 132. Speculative long positions added +3 547 contracts, while shorts fell -2 558. Silver futures saw increase in NET LENGTH, by +2 754 contracts to 46 743. Speculative long positions rose +4 659 contracts while shorts added +1 905. For PGMs, NET LENGTH of Nymex platinum futures gained +2 115 contracts to 35 716 while that for palladium dropped -207 contracts to 13 085.

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