CFTC Commitments of Traders – Net Long Trimmed in Crude Oil Futures after Weeks of Price Rally

According to the CFTC Commitments of Traders report for the week ended July 6. NET LENGTH for crude oil futures slumped -25 139 contracts to 497 351 for the week. Speculative long position declined -24 799 contracts, while shorts added +340 contracts. For refined oil products, NET LENGTH for heating oil dropped 876 contracts to 24 821, while that for gasoline sank -13 442 contracts to 50 417. NET SHORT of natural gas futures rose 7 307 contracts to 108 054 during the week.

Gold futures’ NET LENGTH jumped -20 595 contracts to 182 821 while silver futures’ NET LENGTH rose +3 011 contracts to 444 88. For PGMs, NET LENGTH of Nymex platinum futures dropped -1 168 contracts to 13 576 while that for palladium added +895 contracts to 2 303.