According to the CFTC Commitments of Traders report for the week ended November 16, NET LENGTH of crude oil futures dropped -5 527 contracts to 415 785. Speculative longs slumped -42 410 contracts while shorts fell -36 883 contracts. Bets were trimmed on both sides as price correction form the October peak continued. For refined oil products, NET LENGTH for heating oil dropped -2 993 contracts to 17 029, while that for gasoline rose +9 145 contracts to 54 214. NET SHORT of natural gas futures gained +2 429 contracts to 144 620 during the week.
Gold futures’ NET LENGTH jumped +9 599 contracts to 259 780. Silver futures’ NET LENGTH rose +8 710 contracts to 45 625. For PGMs, NET LENGTH of Nymex platinum futures gained +3 383 contracts to 21 013, while NET SHORT for palladium futures slipped -916 contracts to 2 038.
