CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 06 August 2019

Capitalstars Investment Advisor

Energy Preview: Crude Speculative Longs Drop For Second Week 

Large energy speculators trimmed their bullish net positions in the WTI Crude Oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 387,291 contracts in the data reported through Tuesday July 30th. This was a weekly fall of -10,560 net contracts from the previous week which had a total of 397,851 net contracts. Speculators reduced their bullish positions for a second straight week and for the third time in the past four weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -387,067 contracts on the week. This was a weekly surge of 10,421 contracts.

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