According to the CFTC Commitments of Traders report for the week ended September 28, NET LENGTH of crude oil futures jumped +17 836 contracts to 373 814. Increase in speculative longs clearly outweighed that of shorts. For refined oil products, NET LENGTH for heating oil added +700 contracts to 36 590, while that for gasoline rose +6 504 contracts to 43 177. NET SHORT of natural gas futures soared +6 460 contracts to 146 680 during the week. Traders trimmed bets on both sides. The sharp increase in natural gas price over the past weeks has raised doubt over whether how far the rally could go.
Gold futures’ NET LENGTH slumped -19 248 contracts to 168399. Silver futures’ NET LENGTH gained +1 070 contracts to 16 705. For PGMs, NET LENGTH of Nymex platinum futures rose +4 435 contracts to 5 653, while NET SHORT for palladium futures added +537 contracts to 3 250.