According to the CFTC Commitments of Traders report for the week ended October 20, NET LENGTH for crude oil futures jumped +17 551 contracts to 490 348 for the week. Speculative long position rose +14 764 contracts, while shorts...
The meeting among OPEC+ producers to discuss about revision of output cuts was inconclusive. While a number of OPEC+ producers agreed that weak oil demand outlook might justify more reduction in output, it's yet to know how much more...
WTI crude oil price fluctuated about US$40/bbl last week. Latest forecasts from major oil agencies suggest that impacts of the pandemic on demand will be long-lasting. This could be a barrier for price to go higher. Bets on gold...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended October 9. Crude oil inventory fell -3.82 mmb (consensus:...
The near-term outlook on crude oil price has turned sour, as supply is projected to rise despite high uncertainty in the demand outlook. Both crude oil benchmarks fell more than -2%, as Norwegian output resumes after strike, Libya supply...
According to the CFTC Commitments of Traders report for the week ended October 6, NET LENGTH for crude oil futures gained +9 625 contracts to 471 536 for the week. Speculative long position jumped +9 165 contracts, while shorts...
Net length in gold futures increased as a rise in speculative long positions was accompanied by a fall in speculative shorts. Traders also resumed accumulating gold on price correction. We expect net length in the yellow metal to rise...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -0.57 mmb to 1421.11 mmb in the week ended September 25. Crude oil inventory dropped -1.98 mmb (consensus:...
Crude oil prices have declined for 3 out of the past 4 weeks. the most recent weakness has been driven by concerns over the demand outlook as a third wave of coronavirus outbreak has hit Europe. This is also...
Losing more than -4%, the Comex Gold futures marked its worst week since March amidst US dollar's rebound. The yellow metal's outlook remains bearish in the near-term after the downward breakout after consolation. We expect NET LENGTH to shrink...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dived -7.48 mmb to 1421.68 mmb in the week ended September 18. Crude oil inventory dropped -1.64 mmb (consensus:...
According to the CFTC Commitments of Traders report for the week ended September 15, NET LENGTH for crude oil futures added +378 contracts to 449 744 for the week. Speculative long position rose +11 868 contracts, while shorts also...
Crude oil price rebounded as hurricane Sally damaged production facilities while US inventory resumed decline last week. The front-month WTI crude oil contract extended gain for second day, rising to a 1.5- week high og US$40.34/bbl before settling at...
According to the CFTC Commitments of Traders report for the week ended September 8, NET LENGTH for crude oil futures slumped -41 549 contracts to 449 366 for the week. Speculative long position declined -28 235 contracts, but shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained -3.42 mmb to 1124.86 mmb in the week ended September 4. Crude oil inventory gained +2.03 mmb (consensus:...
Gold price slashed more than 1.8% last week. Reasons for the selloff include better-than-expected US employment report, recovery in US dollar and rebound in Treasury yields. Gold's correction from the peak has lasted for a month with over 6%...
According to the CFTC Commitments of Traders report for the week ended September 1, NET LENGTH for crude oil futures declined further, by -9 784 contracts to, 490 915 for the week. Speculative long position fell -6 429 contracts,...
Crude oil prices plunged more than -2% on profit-taking. The front-month WTI contract settled at US$41.51/bbl, lowest since August 7. The front-month Brent contract fell to US$44.43/bbl, lowest since August 21, at close. WTI-Brent spread widened to US$ 2.92/bbl....
All commodity futures under our coverage were in net speculative long positions last week. NET LENGTH in natural gas futures rose the most as hurricane Laura had raised concerns about supply, outweighing demand worries. NET LENGTH in crude oil...
Crude oil prices firmed with WTI-Brent spread narrowing slightly on Wednesday. Hurricane Laura, now a catastrophic Category 4 hurricane, is expected to an “unsurvivable storm surge,” extreme winds and flash floods over Eastern Texas and Louisiana. This could likely...