WTI Crude Oil Non-Commercial Speculator Positions:
Large energy speculators cut back on their bullish net positions in the Crude Oil WTI 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 543,845 contracts in the data reported through Tuesday September 11th. This was a weekly reduction of -21,885 contracts from the previous week which had a total of 565,730 net contracts.
The speculative WTI position fell for the first time in three weeks and has decreased for four out of the past six weeks. The spec position, although still remaining very bullish, has steadily declined over the year and has fallen by almost 200,000 contracts since making a record high bullish position on February 6th at a total of 739,097 contracts.
WTI Crude Oil Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -575,809 contracts on the week. This was a weekly increase of 23,718 contracts from the total net of -599,527 contracts reported the previous week.
WTI Crude Oil Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $69.25 which was a decline of $-0.62 from the previous close of $69.87, according to unofficial market data.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI