Commodities Buzz: Sharp Spurt In Crude Oil Speculative Longs

24 Jan 2022 , 01:27 PM

Large energy speculators sharply 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 385781 contracts in the data reported through week ended January 17, 2022. This was a weekly surge of 25276 net contracts and pushed up net longs to two month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -27052 contracts on the week. This was a weekly change of -30112 net contracts.

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