CFTC Commitments of Traders – NET LENGTH on Crude oil Futures Fell Sharply as Price Slumped on Coronavirus Concerns

According to the CFTC Commitments of Traders report for the week ended January 28. NET LENGTH for crude oil futures declined -58 806 contracts to 461 762 for the week. Speculative long positions fell -10 973 contracts while shorts rose +47 833 contracts. For refined oil products, NET LENGTH for gasoline fell -23 085 contracts to 104 648, while heating oil‘s NET SHORT soared +12 742 contracts to 21 159. NET SHORT for natural gas futures jumped +12 123 contracts to 261 528 contracts for the week. NET LENGTH for gold futures rose +12 397 contracts to 330 092. Speculative long positions increased +1 608 contracts, while shorts slumped -10 789. Silver futures’ NET LENGTH fell -5 458 contracts to 63 417. Speculative long positions dropped -3 507 contracts while shorts gained +1 951. For PGMs, NET LENGTH of Nymex platinum futures added +205 contracts to 67 596 while that for palladium decreased -2 932 contracts to 6 912.