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WTI Crude Oil Speculators boosted net positions for 4th week

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WTI Crude Oil Non-Commercial Positions:

Large speculators and traders raised their net positions in the WTI crude oil futures markets for a fourth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial contracts of WTI crude futures, traded by large speculators and hedge funds, totaled a net position of 436,661 contracts in the data reported through December 20th. This was a weekly gain of 13,894 contracts from the previous week which had a total of 422,767 net contracts.

WTI Crude Oil Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -454,097 contracts last week. This is a weekly shortfall of -6,256 contracts from the total net of -447,841 contracts reported the previous week.

USO Crude Oil ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the USO Crude Oil ETF, which tracks the price of WTI crude oil, closed at approximately $11.62 which was a dip of $-0.11 from the previous close of $11.73, according to market data from Yahoo Finance.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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