WTI Crude Oil Speculators boost bullish net positions higher for 4th week

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WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators once again raised their bullish net positions to another new record high 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 734,558 contracts in the data reported through Tuesday January 30th. This was a weekly increase of 17,863 contracts from the previous week which had a total of 716,695 net contracts.

This week’s rise in speculator positions marks a fourth straight week of new record high bullish positions and a third straight week with a total net position of over +700,000 contracts. The increases over the last four weeks have now totaled 110,345 net contracts.

WTI Crude Oil Commercial Positions:


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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -764,797 contracts on the week. This was a weekly shortfall of -25,823 contracts from the total net of -738,974 contracts reported the previous week.

USO:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the USO Crude Oil ETF, which tracks the price of WTI crude oil, closed at approximately $12.9 which was a loss of $-0.07 from the previous close of $12.97, 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).

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