Large energy speculators cut 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 373415 contracts in the data reported through week ended January 24, 2022. This was a weekly drop of 12366 net contracts and pulled down net longs from two month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -420646 contracts on the week. This was a weekly change of 6406 net contracts.
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