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CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Jumped Last

According to the CFTC Commitments of Traders report for the week ended June 1, NET LENGTH for crude oil futures jumped +15 807 contracts to 491 297 for the week. Speculative long position rose +13 067 contracts, while shorts dropped -2 740 contracts. For refined oil products, NET LENGTH for heating oil fell -2 126 contracts to 22 704, while that for gasoline rose +2 307 contracts to 55 675. NET SHORT of natural gas futures soared +11 403 contracts to 87 431 during the week. Gold futures’ NET LENGTH dropped -941 contracts to 213 701 while silver futures’ NET LENGTH declined -2 695 contracts to 47 517. For PGMs, NET LENGTH of Nymex platinum futures gained +1 058 contracts to 24 045 while that for palladium added +469 contracts to 2 362.

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