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CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Increased amid Demand Hopes

According to the CFTC Commitments of Traders report for the week ended June 8, NET LENGTH for crude oil futures jumped +19 202 contracts to 510 499 for the week. Speculative long position rose +18 717 contracts, while shorts dropped -485 contracts. For refined oil products, NET LENGTH for heating oil fell -1 617 contracts to 21 087, while that for gasoline declined -1 923 contracts to 53 752. NET SHORT of natural gas futures soared +15 077 contracts to 102 508 during the week.

Gold futures’ NET LENGTH decreased -4 314 contracts to 209 387 while silver futures’ NET LENGTH rose 2 289 contracts to 49 806. For PGMs, NET LENGTH of Nymex platinum futures declined -3 881 contracts to 20 164 while that for palladium added +113 contracts to 2 475.

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