Energy Preview: Crude Rises Steadily In Asia

Energy Preview: Crude Rises Steadily In Asia

Nov 01, 2019 09:11 IST capital market

Crude oil fell to one week low before rising on weakness in US dollar pushed up the commodity. WTI Crude oil is currently trading at $54.39 per barrel, up 0.40% on the day. MCX Crude oil futures closed down 0.70% at Rs 3853 per barrel. Large energy speculators added to their bullish net positions in the WTI Crude Oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 366,172 contracts in the data reported through Tuesday October 22nd. This was a weekly rise of 9,288 net contracts. WTI crude oil speculators raised their bullish bets for a second straight week following a streak of four weekly declines.

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