HomeAction InsightOil N' GoldCFTC Commitments of Traders - Traders Bet Crude Oil Price to Rebound...

CFTC Commitments of Traders – Traders Bet Crude Oil Price to Rebound after Collapse

According to the CFTC Commitments of Traders report for the week ended April 21, NET LENGTH for crude oil futures soared +76 511 contracts to 587 180 for the week. Speculative long positions jumped +35 774 contracts while shorts added -40 737 contracts. The WTI contract for May delivery nosedived to negative territory before settling postiive at maturity. However, surplus has continued to pose problem on storage capacity. This will continue to pressure prices. For refined oil products, NET LENGTH for gasoline added +375 contracts to 92 545, while heating oil‘s NET SHORT increased +1 828 contracts to 6 097. NET SHORT for natural gas futures declined -17 866 contracts to 68 874 contracts for the week.

Gold futures’s NET LENGTH declined -2 930 contracts to 249 571. Speculative long positions declined -4 354 contracts while shorts dropped -1 424. Silver futures’ NET LENGTH fell -2 046 contracts to 28 508. For PGMs, NET LENGTH of Nymex platinum futures decreased -2 509 contracts to 15 287 while that for palladium slipped -22 contracts to 794.

Featured Analysis

Learn Forex Trading