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CFTC Commitments of Traders – Traders Trimmed Bets on Crude Oil after Strong Rally

According to the CFTC Commitments of Traders report for the week ended February 23, NET LENGTH for crude oil futures fell -2 873 contracts to 511 840 for the week. Speculative long position sank -14 214 contracts, while shorts declined -11 341 contracts. For refined oil products, NET LENGTH for heating oil  plunged -10 949 contracts to 4 729, while that for gasoline declined -13 582 contracts to 47 901. NET LENGTH for natural gas futures fell -10 665 contracts to 28 110. Gold futures’ NET LENGTH slumped -19 236 contracts to 215 733 while silver futures’ NET LENGTH decreased -2 181 contracts to 47 643. For PGMs, NET LENGTH of Nymex platinum futures dropped -1 610 contracts to 34 967 while that for palladium slipped -633 contracts to 388.

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