CFTC Commitments of Traders – Bets on Higher Crude Oil Price Increased Further as $70/bbl Level Breached

According to the CFTC Commitments of Traders report for the week ended June 15, NET LENGTH for crude oil futures jumped +13 457 contracts to 523 956 for the week. Speculative long position gained +7 013 contracts, while shorts fell -6 444 contracts. For refined oil products, NET LENGTH for heating oil added +2 308 contracts to 23 395, while that for gasoline declined -5 109 contracts to 48 643. NET SHORT of natural gas futures rose +5 188 contracts to 107 696 during the week. Gold futures’ NET LENGTH sank -17 351 contracts to 192 036 while silver futures’ NET LENGTH rose 2 258 contracts to 52 064. For PGMs, NET LENGTH of Nymex platinum futures dropped -107 contracts to 20 057 while that for palladium slippped -72 contracts to 2 403.