Crude Oil Speculative Longs Down For Fifth Week In Row

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Crude Oil reports and forecast

Gold Silver Reports — Large speculators and commodity traders decreased their net positions in the WTI crude oil futures markets last week for the fifth straight week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial contracts of WTI crude futures, traded by large speculators and hedge funds, totaled a net position of 398,080 contracts in the data reported through March 28th. This was a weekly decline of -20,437 contracts from the previous week which had a total of 418,517 net contracts.

Crude speculative positions are now at their lowest level (and under the +400,000 contract level) since December 6th. Meanwhile, the commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -410,089 contracts last week. This is a weekly change of 23,348 contracts from the total net of -433,437 contracts. — Neal Bhai Reports

Crude Oil Speculative Longs Down For Fifth Week In Row | Gold Silver Reports