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 363383 contracts in the data reported through week ended February 8, 2022. This was a weekly drop of 5521 net contracts and pulled down net longs further from two month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -412144 contracts on the week. This was a weekly change of 2514 net contracts.
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