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CFTC Commitments of Traders – Bets on Crude Oil Trimmed on Both Sides. Yet, Net Length Soared

According to the CFTC Commitments of Traders report for the week ended July 21, NET LENGTH for crude oil futures rise +9 125 contracts to 548 876 for the week. Bets on both sides increased. Speculative short position plunged -13 473 contracts, more than offsetting the -13 473 decline in longs. For refined oil products, NET LENGTH for gasoline increased +6 454 contracts to 52 039, while NET LENGTH for heating oil futures added +1 919 contracts to 7 737. NET SHORT for natural gas futures increased +8 625 contracts to 22 880 contracts for the week.Gold futures’ NET LENGTH rose +4 008 contracts to 266 436. Speculative long positions increased +4 032 contracts while shorts added +24. Silver futures’ NET LENGTH gained +2 886 contracts to 46 755. For PGMs, NET LENGTH of Nymex platinum futures soared +4 108 contracts to 20 412 while that for palladium added +981 contracts to 2 682.

 

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