According to the CFTC Commitments of Traders report for the week ended December 14, NET LENGTH of crude oil futures slumped -20 095 contracts to 347 137. Speculative longs declined -9 352 contracts while shorts gained +10 743 contracts. For refined oil products, NET LENGTH for heating oil dropped -3 874 contracts to 4 723, while that for gasoline gained +6 551 contracts to 56 434. NET SHORT of natural gas futures dropped -2 217 contracts to 130 226 during the week.
Gold futures’ NET LENGTH slumped -14 784 contracts to 202 401. Silver futures’ NET LENGTH fell -7 849 contracts to 21 984. For PGMs, NET LENGTH of Nymex platinum futures declined -2 331 contracts to 3 731, while NET SHORT for palladium futures gained +1 043 contracts to 3 774.
CFTC Commitments of Traders – Rally in Gold Price should Lead to Rebound in Net Long Next Week
