April 27th – By CountingPips.com – Receive our weekly COT Reports by Email
WTI Crude Oil Non-Commercial Speculator Positions:
Large energy speculators continued to boost their bullish net positions higher 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 547,359 contracts in the data reported through Tuesday April 23rd. This was a weekly boost of 32,101 net contracts from the previous week which had a total of 515,258 net contracts.
The week’s net position was the result of the gross bullish position (longs) increasing by 28,560 contracts to a weekly total of 644,670 contracts and combined with the gross bearish position (shorts) which decreased by -3,541 contracts for the week to a total of 97,311 contracts.
The speculative net position has now gained for nine out of the past ten weeks after registering a very small decline last week. The current standing has advanced to the most bullish level since October 2nd when the net position totaled +548,909 contracts.
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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 -570,469 contracts on the week. This was a weekly fall of -40,479 contracts from the total net of -529,990 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 $66.30 which was a gain of $2.25 from the previous close of $64.05, 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).
Article By CountingPips.com – Receive our weekly COT Reports by Email
