Energy Preview: Crude Oil Speculative Longs Gain For Second Week
11-Jul-18   09:55 Hrs IST

Large energy speculators continued to add to their bullish net positions in the Crude Oil WTI Futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 656,720 contracts in the data reported through Tuesday July 3rd. This was a weekly advance of 31,629 contracts from the previous week which had a total of 625,091 net contracts. Speculative bullish bets rose for a second straight week. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -683,926 contracts on the week. This was a weekly drop of -28,468 contracts from the total net of -655,458 contracts reported the previous week.

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