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CFTC Commitments of Traders – Traders Bet Natural Gas Price to Rise. Demand could Increase as Weather Gets Cooler

According to the CFTC Commitments of Traders report for the week ended October 6, NET LENGTH for crude oil futures gained +9 625 contracts to 471 536 for the week. Speculative long position jumped +9 165 contracts, while shorts dropped -460 contracts. For refined oil products, NET LENGTH for gasoline decreased -204 contracts to 56 654, while NET LENGTH for heating oil futures added +965 contracts to 8 210. NET LENGTH in Natural Gas futures soared +20 442 contracts to 68 728 for the week. The front-month contract has strengthened for a third consecutive week, rising to a 11-month high last week, amidst expectations that demand will soar as winters is around the corner.

 

Gold futures’ NET LENGTH rose +4 928 contracts to 248 587. Speculative long positions gained +4 816 contracts while shorts slipped -112. Silver futures’ NET LENGTH added +527 contracts to 41 257. For PGMs, NET LENGTH of Nymex platinum futures was down -1 229 contracts to 9 824 while that for palladium gained +556 contracts to 3 194.

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