CFTC Commitments of Traders – Traders Sharply Trimmed Bets on Higher Crude Price
According to the CFTC Commitments of Traders report for the week ended August 3. NET LENGTH for crude oil futures sank -19 237 contracts to 430 527 for the week. Speculative long position declined -17 941 contracts, while shorts increased +1 296 contracts. Net length of WTI crude oil...
Crude Oil Prone to Record First Fall in 3 Weeks on Delta Variant, China Slowdown and OPEC+’s Deal
Despite recovery, crude oil prices are prone to record the first decline in 3 weeks. The sharp selloff earlier in the week is a result of a confluence of factors including resurgence of the pandemic in the US and China, China’s economic slowdown and OPEC+’s plan to increase output.
The...
CFTC Commitments of Traders – Crude Oil’s Net Long Increased Only Slightly Despite Price Rise
According to the CFTC Commitments of Traders report for the week ended July 27. NET LENGTH for crude oil futures added +1 024 contracts to 449 764 for the week. Speculative long position gained +8 365 contracts, while shorts increased +7 341 contracts. Bets on higher and lower crude...
CFTC Commitments of Traders – Long Bets Trimmed on Crude Oil Futures amidst Profit-Taking
According to the CFTC Commitments of Traders report for the week ended July 20. NET LENGTH for crude oil futures slumped -50 356 contracts to 448 740 for the week. Speculative long position declined -43272 contracts, while shorts rose +7 084 contracts. For refined oil products, NET LENGTH for...
US Crude Oil Inventory Surprisingly Increased for First Time in 3 Months
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +4.42 mmb to 1275.28 mmb in the week ended June 16. Crude oil inventory increased, for the first time since mid-April, by +2.11 mmb (consensus: -4.47 mmb) to...
CFTC Commitments of Traders – Net Long Trimmed in Crude Oil Futures after Weeks of Price Rally
According to the CFTC Commitments of Traders report for the week ended July 6. NET LENGTH for crude oil futures slumped -25 139 contracts to 497 351 for the week. Speculative long position declined -24 799 contracts, while shorts added +340 contracts. For refined oil products, NET LENGTH for...
CFTC Commitments of Traders – Bets Trimmed on Crude Oil Futures amidst OPEC+ Uncertainty.
According to the CFTC Commitments of Traders report for the week ended June 29 NET LENGTH for crude oil futures fell -1 442 contracts to 522 490 for the week. Speculative long position decreased -5 113 contracts, while shorts slipped -1 442 contracts. For refined oil products, NET LENGTH...
Indecisive OPEC+ Gives Further Boost to Crude Oil
After delaying the meeting to discuss output quota for a day, the OPEC+ still fails to reach a deal regarding production increase for the coming months. News headlines suggest that the increase could eventually be below market expectations. Crude oil prices jumped with the front-month WTI contract rose to...
US Crude Inventory Sank Much More than Expected
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -4.58 mmb to 1278.28 mmb in the week ended June 25. Crude oil inventory slumped -6.72 mmb (consensus: -4.69 mmb) to 452.34 mmb. Stockpile decreased in 4 out...
Gold Rarely Declines with Real Yield. This Time Due to USD Strength
Gold price got dumped, falling to the lowest level in over 2 months. Losing over -7% against USD in June, the selloff this time has been driven by strong US dollar, rather than higher yields. The greenback is darling of the market recently, thanks to strong economic data, a...
CFTC Commitments of Traders – Gold’s Net Length Slumped on USD Strength
According to the CFTC Commitments of Traders report for the week ended June 22 NET LENGTH for crude oil futures gained +2 205 contracts to 526 161 for the week. Speculative long position increased +5 615 contracts, while shorts added +3 410 contracts. For refined oil products, NET LENGTH...
Sharp Fall in US Inventory Gives Further Boost to Crude Oil Price
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -5.81 mmb to 1282.86 mmb in the week ended June 18. Crude oil inventory slumped -7.61 mmb (consensus: -3.94 mmb) to 459.06 mmb. Stockpile decreased in 4 out...
CFTC Commitments of Traders – Bets on Higher Crude Oil Price Increased Further as $70/bbl Level Breached
According to the CFTC Commitments of Traders report for the week ended June 15, NET LENGTH for crude oil futures jumped +13 457 contracts to 523 956 for the week. Speculative long position gained +7 013 contracts, while shorts fell -6 444 contracts. For refined oil products, NET LENGTH...
CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Increased amid Demand Hopes
According to the CFTC Commitments of Traders report for the week ended June 8, NET LENGTH for crude oil futures jumped +19 202 contracts to 510 499 for the week. Speculative long position rose +18 717 contracts, while shorts dropped -485 contracts. For refined oil products, NET LENGTH for...
Gasoline and Distillate Inventories Built on Sharp Fall in Demand
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +15.47 mmb to 1293.31 mmb in the week ended May 28. Crude oil inventory plunged -5.24 mmb (consensus: -2.04 mmb) to 474.03 mmb. Stockpile decreased in 2 out...
CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Jumped Last
According to the CFTC Commitments of Traders report for the week ended June 1, NET LENGTH for crude oil futures jumped +15 807 contracts to 491 297 for the week. Speculative long position rose +13 067 contracts, while shorts dropped -2 740 contracts. For refined oil products, NET LENGTH...
Decline in US Crude Inventory More than Doubled Consensus
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out...
CFTC Commitments of Traders – Net Length for WTI Crude Trimmed as Price Approached Two Months’ High
According to the CFTC Commitments of Traders report for the week ended May 25, NET LENGTH for crude oil futures dropped-457 contracts to 475 490 for the week. Speculative long position rose +13 038 contracts, while shorts soared +13 495 contracts. For refined oil products, NET LENGTH for heating...
Rise in Petroleum Demand Signals Pickup in US Economic Activities
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -7.67 mmb to 1275.92 mmb in the week ended May 21. Crude oil inventory fell -1.66 mmb (consensus: -1.05 mmb) to 484.35 mmb. Stockpile decreased in 4 out...
CFTC Commitments of Traders – Bets on Crude Oil Trimmed as Iran Sanctions Prone to be Lifted
According to the CFTC Commitments of Traders report for the week ended May 18, NET LENGTH for crude oil futures sank -20 614 contracts to 475 947 for the week. Speculative long position fell -37 588 contracts, while shorts were down -16 974 contracts. Bets were trimmed on both...