According to the CFTC Commitments of Traders report for the week ended September 8, NET LENGTH for crude oil futures slumped  -41 549 contracts to 449 366 for the week. Speculative long position declined -28 235 contracts, but shorts rose +13 314 contracts. Crude oil prices sank over -6% last week on higher inventory and subdued demand outlook.  For refined oil products, NET LENGTH for gasoline decreased +10 947 contracts to 61 476, while NET LENGTH for heating oil futures  dropped -4 099 contracts to 6 441. US gasoline demand is expected to fall sharply as the driving season is over. NET LENGTH in Natural Gas futures slipped -2 195 contracts to 29 941 for the week.  

Gold futures’ NET LENGTH gained +5 677 contracts to 236 473. Speculative long positions gained +7 055 contracts while shorts added +1 378. Silver futures’ NET LENGTH added +8 contracts to 33 480. For PGMs, NET LENGTH of Nymex platinum futures dropped -4 184 contracts to 15 271 while that for palladium added +60 contracts to 2 838.

 

- advertisement -

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.