WTI Crude Oil Speculators added to their bullish net positions for 2nd week

September 8, 2018

Sept. 8th 2018 – By CountingPips.comReceive our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators boosted their bullish net positions in the WTI Crude Oil futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 565,730 contracts in the data reported through Tuesday September 4th. This was a weekly advance of 15,417 contracts from the previous week which had a total of 550,313 net contracts.

Speculative bets rose for a second straight week this week after declining for the prior three weeks in a row. The current standing remains strongly bullish as the net position has now remained above the +500,000 contract level for forty-five consecutive weeks.


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WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -599,527 contracts on the week. This was a weekly fall of -13,701 contracts from the total net of -585,826 contracts reported the previous week.

WTI Crude Oil Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $69.87 which was a gain of $1.34 from the previous close of $68.53, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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