According to the CFTC Commitments of Traders report for the week ended December 10. NET LENGTH for crude oil futures jumped +67 504 contracts to 495 539 for the week. Speculative long positions gained +46 096 contracts while shorts declined -21 408 contracts. For refined oil products, NET LENGTH for gasoline rose +9 433 contracts to 96 787, while heating oil returned to NET LENGTH of 185 contracts for the week. NET SHORT for natural gas futures fell -3 384 contracts to 218 926 contracts for the week. Energy prices generally strengthened last week as hopes of US-China trade deal and Conservatives’ victory in UK elections have lifted risk appetite.

 

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NET LENGTH for gold futures declined -19 785. Speculative long positions declined -17 356 contracts, while shorts added +2 429. Silver futures saw decline of NET LENGTH, by -9 485 contracts to 40 742. Speculative long positions dropped -3 624 contracts while shorts added +5 861. For PGMs, NET LENGTH of Nymex platinum futures gained +4 048 contracts to 49 577 while that for palladium increased +196 contracts to 12 507.

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