Crude net bullish positions fall for the fifth week in a row

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators reduced their bullish bets on WTI crude futures last week as positions dropped for a fifth consecutive week.

The total non-commercial contracts of crude oil futures stood at +206,887 contracts during the reporting time-period March 17th to March 24th; a weekly change of -36,601 contracts from the previous week’s total of +243,488 net contracts. The long positions in oil futures declined by -3,370 contracts while the short positions rose by 33,231 contracts.

Meanwhile, during the reporting time period, WTI Crude oil prices rose from USD 45.19/barrel to USD 47.51/barrel.