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CFTC Commitments of Traders – Bets for Lower Crude Oil Price Trimmed Significantly

According to the CFTC Commitments of Traders report for the week ended November 17, NET LENGTH for crude oil futures jumped +17 273 contracts to 480 811 for the week. Speculative long position added +4 502 contracts, while shorts slumped -12 771 contracts. For refined oil products, NET LENGTH for gasoline increased +7 137 contracts to 60 390, while heating oil’s NET LENGTH dropped -1 333 contracts to 14 533. NET LENGTH in Natural Gas futures declined -10 158 contracts to 46 442 for the week. Gold futures’ NET LENGTH soared +11 534 contracts to 251 270 while silver futures’ NET LENGTH slipped -214 contracts to 45 614. For PGMs, NET LENGTH of Nymex platinum futures rose +4 573 contracts to 16 172 while that for palladium dropped -548 contracts to 3 063.

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