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Commodities Buzz: Crude Oil Speculative Longs Surge

Commodities Buzz: Crude Oil Speculative Longs Surge

January 17, 2022 2:09 IST | capital market
Large energy speculators added to their net long positions in the WTI Crude Oil futures market last week, according to the latest Commitment of Traders (COT) data. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 360505 contracts in the data reported through week ended January 10, 2022. This was a weekly surge of 27680 net contracts and pushed up net longs further from around two and half year low. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -396940 contracts on the week. This was a weekly change of -26984 net contracts

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