CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 24 SEPTEMBER 2019

Energy Preview: Crude Oil Speculative Longs See Marginal Drop

Large energy speculators slightly cut 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 427,105 contracts in the data reported through Tuesday, September 17th. This was a weekly drop of -1,100 net contracts. The speculative position has now declined in three out of the past four weeks. The commercial trader’s position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -440,283 contracts on the week. This was a weekly fall of -16,095 contracts.

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