Speculators Bullish Positions In Crude Oil Tread Lower For 13th Week
Zachary Storella | Sep 28, 2014 01:18AM ET
Weekly CFTC Net Speculator Crude Oil Report
Oil Speculators overall long positions fall for 13th straight week
Crude Oil: Futures market traders and large speculators continued to edge down their overall bullish bets in crude oil futures last week and pushed positions lower for a thirteenth straight week, 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, decreased to a total net position of +296,052 contracts in the data reported for September 23rd. This was a change of -1,229 contracts from the previous week’s total of +297,281 net contracts for the data reported through September 16th.
For the week, standing non-commercial long positions in oil futures fell by a total of 11,178 contracts while the short positions also showed a decline by 9,949 contracts to total the overall weekly net change of -1,229 contracts.
The non-commercial trader’s net positions is at a new lowest level since July 2nd 2013 when overall net positions equaled +289,595 contracts.
Over the same weekly reporting time-frame, from Tuesday September 16th to Tuesday September 23rd, the crude oil price decreased from $93.81 to $91.56 per barrel, according to Nymex futures price data from investing.com. Brent Oil prices, meanwhile, also traded lower from $99.05 to $96.85 per barrel from Tuesday September 16th to Tuesday September 23rd, according to price data from investing.com.
*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).
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.