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CFTC Commitments of Traders – Global Commodity Prices Slumped on Omicron Worries

According to the CFTC Commitments of Traders report for the week ended November 23, NET LENGTH of crude oil futures sank -8 128 contracts to 407 657. Speculative longs added +417 contracts while shorts jumped +8 545 contracts. For refined oil products, NET LENGTH for heating oil dropped -1 398 contracts to 15 631, while that for gasoline gained +1 780 contracts to 55 994. NET SHORT of natural gas futures declined -7 365 contracts to 137 255 during the week.

Gold futures’ NET LENGTH slumped -25 369 contracts to 234 411. Silver futures’ NET LENGTH fell -5 520 contracts to 40 105. For PGMs,  NET LENGTH of Nymex platinum futures plunged -7 878 contracts to 13 135, while NET SHORT for palladium futures slipped -272 contracts to 1 766.

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