CFTC Commitments of Traders – Bets Trimmed on Crude Oil Futures as Traders Took Profit after 7-Week Rally

According to the CFTC Commitments of Traders report for the week ended December 15, NET LENGTH for crude oil futures decreased -825 contracts to 513 804 for the week. Speculative long position fell -6 539 contracts, while shorts declined -5 714 contracts. For refined oil products, NET LENGTH for gasoline slipped -208 contracts to 64 185, while heating oil’s NET LENGTH declined -2 568 contracts to 19 849. NET LENGTH in Natural Gas futures jumped +16 758 contracts to 27 109 for the week. Gold futures’ NET LENGTH gained +2 364 contracts to 271 584 while silver futures’ NET LENGTH added +1 136 contracts to 49 512. For PGMs, NET LENGTH of Nymex platinum futures gained +574 contracts to 25 076 while that for palladium slipped -20 contracts to 2 591.