12 Jan 2015
2. Speculators trim bullish bets after WTI Crude falls below USD 50/barrel
FXStreet (Mumbai) - Speculators reduced their overall bullish bets on Crude oil prices for the third consecutive week after after Crude oil fell below USD 50/barrel in the last week.
As per the Commodity Futures Trading Commission (CFTC) data, the non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, fell by 3684 contracts to a total net position of 268,800 contracts in the data reported for January 6th. Moreover, standing long positions did rise by 19,637 contracts, but were offset by the short positions that increased by 23,321 contracts.
Over the reporting time period of December 30th to January 6th, the WTI crude oil price fell from USD 54.12/barrel to USD 47.93/barrel.
As per the Commodity Futures Trading Commission (CFTC) data, the non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, fell by 3684 contracts to a total net position of 268,800 contracts in the data reported for January 6th. Moreover, standing long positions did rise by 19,637 contracts, but were offset by the short positions that increased by 23,321 contracts.
Over the reporting time period of December 30th to January 6th, the WTI crude oil price fell from USD 54.12/barrel to USD 47.93/barrel.