23 Mar 2015
Speculators cut oil bets for a 4th week
FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) on Friday, speculators trimmed their bullish positions in WTI crude futures last week for the fourth consecutive week.
Overall bullish positions at lowest level since 2013
The non-commercial contracts of crude oil futures totaled a net position of +243,488 contracts for the reporting time period - March 10th to March 17th; down -17,171 contracts from the previous week’s total of +260,659 net contracts. Long positions in oil futures actually rose by 21,814 contracts, but it was more than offset by the short positions which increased by 38,985 contracts. The overall net speculator positions now stand at the lowest level since May 14th 2013.
Meanwhile, during the reporting time period, WTI Crude prices fell from USD 48.29/barrel to USD 45.19/barrel.
Overall bullish positions at lowest level since 2013
The non-commercial contracts of crude oil futures totaled a net position of +243,488 contracts for the reporting time period - March 10th to March 17th; down -17,171 contracts from the previous week’s total of +260,659 net contracts. Long positions in oil futures actually rose by 21,814 contracts, but it was more than offset by the short positions which increased by 38,985 contracts. The overall net speculator positions now stand at the lowest level since May 14th 2013.
Meanwhile, during the reporting time period, WTI Crude prices fell from USD 48.29/barrel to USD 45.19/barrel.