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CFTC Commitments of Traders – Net Long Sank in Crude Oil While Increased in Precious Metal Futures

According to the CFTC Commitments of Traders report for the week ended April 6, NET LENGTH for crude oil futures plunged -19 585 contracts to 511 725 for the week. Speculative long position fell -21 921 contracts, while shorts dropped -2 336 contracts. OPEC+’s decision to increase output from May to July sent oil prices lower. For refined oil products, NET LENGTH for heating oil added +1 533 contracts to 9 292, while that for gasoline gained +1 391 contracts to 49 320. NET SHORT of natural gas futures jumped +13 699 contracts to 51 583 during the week.

Gold futures’ NET LENGTH soared +21 981 contracts to 189 509 while silver futures’ NET LENGTH increased +3 345 contracts to 32 315. For PGMs, NET LENGTH of Nymex platinum futures rose +2 142 contracts to 32 748 while that for palladium added +195 contracts to 2 538.

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