According to the CFTC Commitments of Traders report for the week ended July 9, NET LENGTH for crude oil futures fell -2 661 contracts to 390 149 for the week. Speculative long positions dropped -7 484 contracts and shorts were down -4 823 contracts. For refined oil products, NET LENGTH for gasoline fell -2 210 contracts to 76 342, while NET SHORT for heating oil slipped -950 contracts to 8 334 for the week. NET SHORT for natural gas futures dropped -1 638 contracts to 157 507 contracts for the week.
NET LENGTH of gold and silver futures shrank last week. NET LENGTH for gold futures declined -14 183 contracts to 244 763. This is the first decline in 6 weeks as traders took profit from recent gold price rally. Speculative long positions fell -6 597 contracts, while shorts rose +7 586. For silver futures, speculative long positions dropped -3 659 contracts while shorts added +1 645. NET LENGTH for silver futures was down -5 304 contracts to 25 151. For PGMs, NET LENGTH of Nymex platinum futures declined -2 604 contracts to 6 693 while that for palladium gained +879 contracts to 12 896.
