CFTC Commitments of Traders – Traders Raised Bets for Higher Precious Metal Prices
According to the CFTC Commitments of Traders report for the week ended July 24, NET LENGTH for gold futures gained +5 749 contracts to 251 250. Speculative long positions rose +2 346 contracts, while shorts fell -3 403. For silver futures, speculative long positions rose +9 680 contracts while...
US Crude Oil Inventory Slumped Last Week
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -6.687 mmb to 1308.54 mmb in the week ended July 19. Crude oil inventory slumped -10.84 mmb to 445.04 mmb (consensus: -4.01 mmb). Inventories fell in 4 out...
CFTC Commitments of Traders – Net Length for Crude Oil Futures Gained Most in Three Months
According to the CFTC Commitments of Traders report for the week ended July 17, NET LENGTH for crude oil futures jumped +33 613 contracts to 423 762 for the week. Speculative long positions surged +39 788 contracts and shorts were up +6 175 contracts. For refined oil products, NET...
US Crude Oil Inventory Fell, While Fuel Stockpile Gained
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks jumped +11.66 mmb to 1315.23 mmb in the week ended July 12. Crude oil inventory declined -3.12 mmb to 455.88 mmb (consensus: -2.69 mmb). Inventories fell in 4 out...
CFTC Commitments of Traders – Bets for Higher Oil and Gold Prices Dropped
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...
Another Week of Withdrawal Sent Crude Oil Inventory to April’s Level
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -3.78 mmb to 1303.57 mmb in the week ended July 4. Crude oil inventory slumped -9.5 mmb to 458.99 mmb (consensus: -3.08 mmb). Inventories rose in 4 out...
CFTC Commitments of Traders -Traders Bet Higher Crude Oil Price ahead of OPEC+ Meeting. Net Length Likely Drops in the Coming Week
According to the CFTC Commitments of Traders report for the week ended July 2, NET LENGTH for crude oil futures rose +14 007 contracts to 392 810 for the week. Speculative long positions jumped +16 239 contracts and shorts added +2 232 contracts. Crude oil prices continued recently ahead...
US Crude Oil Inventory Continued To Drop
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks increased +2.47 mmb to 1307.35 mmb in the week ended June 27. Crude oil inventory fell -1.09 mmb to 468.49 mmb (consensus: -2.96 mmb). Inventories rose in 4 out...
Slump in Crude Oil Price after OPEC+ Announcement Signals More Cuts Needed to Correct Imbalance
OPEC+ agreed to extend production cuts of -1.2M bpd 9 months to March 31, 2020. The extension came in longer than market expectations of 6 months, when the group meets to renegotiate further extension in December 2019. Another surprise was the price actions of crude oil. Both benchmarks -...
CFTC Commitments of Traders – Bets for Higher Precious Metal Prices Soared as Gold and Silver Rallied to Multi-Year Highs
According to the CFTC Commitments of Traders report for the week ended June 25, NET LENGTH for crude oil futures rose +15 716 contracts to 378 803 for the week. Speculative long positions fell -5 808 contracts but shorts declined -21 524 contracts. We expect NET LENGTH to rise...
Huge Decline in US Inventory Lifted Crude Oil Price
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks decreased -11.89 mmb to 1304.89 mmb in the week ended June 21. Crude oil inventory slumped -12.79 mmb to 469.58 mmb (consensus: -2.54 mmb). Inventories rose in ALL 5...
CFTC Commitments of Traders – Precious Metals Glittered as Rate Cut Hopes Heightened
According to the CFTC Commitments of Traders report for the week ended June 18, NET LENGTH for crude oil futures rose +24 140 contracts to 363 087 for the week. Speculative long positions fell -12 708 contracts but shorts declined by a sharper -24 140 contracts. Escalated tensions between...
US Crude Oil Inventory Fell For First Time in Three Weeks
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks decreased -0.41 mmb to 1316.77 mmb in the week ended June 14. Crude oil inventory fell -3.11 mmb to 482.36 mmb (consensus: -1.08 mmb). Inventories rose in 2 out...
CFTC Commitments of Traders – Net Speculative Length for Crude Oil Futures Declined for Seven Weeks In A Row
According to the CFTC Commitments of Traders report for the week ended June 11, NET LENGTH for crude oil futures dived -48 513 contracts to 351 655 for the week. Speculative long positions plunged -23 490 contracts while shorts jumped +25 023. More traders were speculating weaker oil prices...
US Inventory Increased for Another Week as Economic Outlook Remains Hazy
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose another week, by +9.56 mmb to 1317.18 mmb in the week ended June 7. Crude oil inventory gained +2.21 mmb to 485.47 mmb (consensus: -0.48 mmb). Inventories rose...
CFTC Commitments of Traders – Energy Prices Weakened Further on Gloomy Global Outlook
Energy prices remained weak. We expect the bearish trend to carry on although OPEC+ would likely announce to extend output cut at the June 25 meeting. According to the CFTC Commitments of Traders report for the week ended June 4, NET LENGTH for crude oil futures slumped -38 770...
Crude Oil Inventory Build Adds to Oversupply Concerns amidst Global Slowdown
Having fallen over -20% from April's peak, oil price has uncomfortably entered a bear market. Intensification of US- China trade war, slowdown in economic growth in major economies, Brexit uncertainty and other geopolitical factors have heightened concerns about the global oil demand. Stock- builds in the US only adds...
CFTC Commitments of Traders – Weaker Oil Prices Anticipated as Traders Accumulated Short Positions
According to the CFTC Commitments of Traders report for the week ended May 28, Bearish sentiment was broadly-based in the energy market. NET LENGTH for crude oil futures slumped -39 460 contracts to 438 938 for the week. Speculative long positions plunged -21 546 contracts while shorts rose -17...
US Crude Oil Inventory Dropped Modestly, While Production Built Further
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -1.57 mmb to 1285.49 mmb in the week ended May 24. Crude oil inventory slipped -0.28 mmb to 476.49 mmb (consensus: -0.86 mmb). Inventories rose in 3 out...
CFTC Commitments of Traders- Bets on Crude Oil Price Plunged on Both Sides, as Trade War Continues to Escalate
According to the CFTC Commitments of Traders report for the week ended May 21, NET LENGTH for crude oil futures declined -9 410 contracts to 478 398 for the week. Speculative long positions slumped -22 000 contracts while shorts also plunged -12 590. Uncertainty of US-China trade war continued...