MTECHTIPS;- Crude Sees Good Speculative Demand Says COT

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MTECHTIPS;- Crude Sees Good Speculative Demand Says COT

MTECHTIPS-Crude Oil WTI 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 715,770 contracts in the data reported through Tuesday March 27th. This was a weekly lift of 12,062 contracts from the previous week which had a total of 703,708 net contracts. Speculative positions have now gained for a second straight week. The current level is just below the record high bullish position of +739,097 contracts that was reached on February 6th. The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -738,031 contracts on the week. This was a weekly drop of -14,155 contracts

 

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