WTI Crude Oil Speculators Pull Back On Bullish Bets Again This Week

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WTI Crude Oil Speculators Pull Back On Bullish Bets Again This Week

WTI Crude Oil COT Futures Large Trader Positions

WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators continued to lower their bullish net positions 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 530,366 contracts in the data reported through Tuesday September 18th. This was a weekly fall of -13,479 contracts from the previous week which had a total of 543,845 net contracts.

The speculators have decreased their bullish bets for two straight weeks and for the fifth time out of the past seven weeks. The current standing is under the +600,000 net contract level for a sixth consecutive week and has now fallen to the lowest bullish level since October 31st of 2017 when the net position totaled +502,949 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 -567,938 contracts on the week. This was a weekly gain of 7,871 contracts from the total net of -575,809 contracts reported the previous week.

WTI Crude Oil Speculators Pull Back On Bullish Bets Again This Week

WTI Crude Oil COT Futures Large Trader Vs WTI Crude Oil Futures

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 $69.59 which was a rise of $0.34 from the previous close of $69.25, according to unofficial market data.

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