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CFTC Commitments of Traders – Bets on Lower Crude Oil Price Soared

According to the CFTC Commitments of Traders report for the week ended April 13, NET LENGTH for crude oil futures plunged -19 047 contracts to 492 678 for the week. Speculative long position dropped -5 430 contracts, while shorts rose +13 617 contracts. For refined oil products, NET LENGTH for heating oil gained +3 410 contracts to 12 702, while that for gasoline declined -7 286 contracts to 42 034. NET SHORT of natural gas futures slipped -307 contracts to 51 276 during the week.

Gold futures’ NET LENGTH plunged -8 635 contracts to 180 874 while silver futures’ NET LENGTH increased +4 109 contracts to 36 424. For PGMs, NET LENGTH of Nymex platinum futures sank -8 116 contracts to 24 632 while that for palladium added +315 contracts to 2 853.

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