CFTC Commitments of Traders – Bets Reduced on Crude Oil Futures as Price Soared to Highest since 2014

Oct 30 21, 17:20 GMT

According to the CFTC Commitments of Traders report for the week ended October 26, NET LENGTH of crude oil futures dropped -5 876 contracts to 423 718. Speculative longs slumped -15 549 contracts while shorts fell -9 673 contracts. Bets were trimmed on both sides as price consolidated as 7-year high. For refined oil products, NET LENGTH for heating oil dropped -650 contracts to 25 791, while that for gasoline added +2 403 contracts to 51 045. NET SHORT of natural gas futures rose 7 118 contracts to 138 188 during the week. Gold futures’ NET LENGTH soared +21 211 contracts to 214 560. Silver futures’ NET LENGTH gained +7 176 contracts to 37 532. For PGMs, NET LENGTH of Nymex platinum futures added +58 contracts to 14 902, while NET SHORT for palladium futures added +538 contracts to 2 954.