Weekly Large Trader COT Report: WTI Crude Oil
CFTC COT data shows speculator’s decreased oil bets
WTI Crude Oil Non-Commercial Positions:
Futures market traders and large oil speculators reduced their overall bullish bets in WTI oil futures last week following five weeks of increases in bullish bets, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, totaled a net position of +251,728 contracts in the data reported for September 29th. This was a change of -7,701 contracts from the previous week’s total of +259,429 net contracts for the data reported through September 22nd.
For the week, the standing non-commercial long positions in oil futures declined by -7,719 contracts while the short positions edged lower by -18 contracts to total the overall weekly net change of -7,701 contracts.
WTI Crude Oil Commercial Positions:
In the commercial positions for oil on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) virtually maintained their existing bearish positions from the previous week at a net total position of -249,749 contracts through September 29th. This is a weekly change of +22 contracts from the total net amount of -249,771 contracts on September 22nd.
United States Oil (NYSE:USO) Crude Oil ETF:
Over the same weekly reporting time-frame, from Tuesday September 22nd to Tuesday September 29th, the USO Oil ETF, which tracks the WTI crude oil price, dipped from $14.92 to $14.61, according to ETF data for the USO United States Oil Fund LP ETF.
Last 6 Weeks of Large Trader Positions
COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).
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