CFTC Commitments of Traders – Traders Remained Bearish over Commodity Prices amidst Omicron Uncertainty

According to the CFTC Commitments of Traders report for the week ended November 30, NET LENGTH of crude oil futures slumped -20 423 contracts to 387 234. Speculative longs added +1 276 contracts while shorts soared +21 699 contracts. For refined oil products, NET LENGTH for heating oil declined -4 406 contracts to 11 225, while that for gasoline plummeted -10 380 contracts to 45 614. NET SHORT of natural gas futures dropped -4 577 contracts to 132 678 during the week. Gold futures’ NET LENGTH sank -8 551 contracts to 225 860. Silver futures’ NET LENGTH slipped -1 671 contracts to 38 434. For PGMs,  NET LENGTH of Nymex platinum futures dropped -4 187 contracts to 8 948, while NET SHORT for palladium futures added +1 207 contracts to 2 973.