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CFTC Commitments of Traders – Crude Oil Shorts Trimmed as Price Rallied Further

According to the CFTC Commitments of Traders report for the week ended March 9, NET LENGTH for crude oil futures rallied +18 419 contracts to 537 438 for the week. Speculative long position gained +4 279 contracts, while shorts declined -14 140 contracts. For refined oil products, NET LENGTH for heating oil added +998 contracts to 6 041, while that for gasoline rose +4 449 contracts to 47 337. Natural gas futures drifted to NET SHORT of 42 contracts during the week.

Gold futures’ NET LENGTH slumped -14 475 contracts to 175 163 while silver futures’ NET LENGTH decreased -3 467 contracts to 36 149. For PGMs, NET LENGTH of Nymex platinum futures slipped -2 496 contracts to 28 037 while that for palladium dipped -307 contracts to 825.

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