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CFTC Commitments of Traders – NET LENGTH on Crude Oil Increased on Bargain Hunting

According to the CFTC Commitments of Traders report for the week ended April 30, NET LENGTH for crude oil futures added +2 208 contracts to 589 388 for the week. Speculative long positions gained +1 530 contracts while shorts dropped -678 contracts.  While the front-month WTI crude contract rebounded  after diving into the negative territory weeks ago, it has been trading below US$20/bbl. For refined oil products, NET LENGTH for gasoline fell -2 482 contracts to 900 63, while heating oil‘s NET SHORT decreased -4 602 contracts to 4 602. NET SHORT for natural gas futures declined -19 734 contracts to 49 140 contracts for the week. Gold futures’s NET LENGTH soared +13 158 contracts to 262 729. Speculative long positions gained +5 119 contracts while shorts declined -8 039. Silver futures’ NET LENGTH fell -3 003 contracts to 25 505. For PGMs, NET LENGTH of Nymex platinum futures increased +2 047 contracts to 17 334 while that for palladium slipped -162 contracts to 632.

 

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