According to the CFTC Commitments of Traders report for the week ended March 26, NET LENGTH for crude oil futures jumped +33 873 contracts to 448 619 for the week. Speculative long positions rose +25 989 contracts while shorts plunged -7 884. Crude oil prices strengthened during the week. For refined oil products, NET LENGTH for gasoline gained +3 971 contracts to 87 399, while NET SHORT for heating oil dropped -2 761 contracts to 10 202 contracts for the week. NET SHORT for natural gas futures fell -7 289 contracts to 22 946 contracts for the week.
On the precious metal complex, NET LENGTH for gold futures increased, by +31 345 contracts, to 119 741 last week. Speculative long positions rose soared +10 122 contracts, while shorts slumped -21 223, resulting in a rise in NET LENGTH. For silver futures, speculative long positions added +857 contracts while shorts fell -2 022. These resulted in a jump in NET LENGTH, by -2 879 contracts, to 26 189 contracts. Both precious metals strengthened last week on expectations of a dovish Fed and a decline in global yields. For PGMs, NET LENGTH of Nymex platinum futures increased +6 626 contracts to 24 207 while that for palladium slid -416 contracts to 12 168.
