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Home Action Insight Oil N' Gold Traders Trimmed Long Position on Crude Oil as Price Approaches Peak in...

Traders Trimmed Long Position on Crude Oil as Price Approaches Peak in Near Term

Speculators generally stayed bullish over the energy complex in the week ended May 15. Although Net LENGTH for crude oil futures slumped -35 484 contracts from a week ago to 644 444, that for heating oil rose +9 610 contracts to 42 070. Also, net LENGTH for gasoline added +11 166 contracts to 95 919. Net SHORT for natural gas decreased -30 595 contracts to 93 428 for the week.

Speculators were also mixed over the precious metal complex last week. Net LENGTH for gold slumped -14 997 contracts to 92 443. Silver drifted to net LENGTH of 658 contracts for the week. For PGMs, net LENGTH for platinum dropped -2 192 contracts to 8 196 while that for palladium added +388 contracts to 10 684.

 

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