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Crude Oil Speculators raised net bullish positions for 1st time in 4 weeks

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By CountingPips.com – Weekly CFTC Net Speculator Crude Oil Report

CFTC COT data shows speculators raised oil bets while WTI crude fell further

CRUDE OIL: Futures market traders and large speculators increased their overall bullish bets in WTI crude oil futures last week for the first time in four weeks, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, fell to a total net position of +275,480 contracts in the data reported for January 13th. This was a change of +6,680 contracts from the previous week’s total of +268,800 net contracts for the data reported through January 6th.

For the week, standing non-commercial long positions in oil futures rose by a total of +44,643 contracts while the short positions rose by 37,963 contracts to total the overall weekly net change of +6,680 contracts.

Over the same weekly reporting time-frame, from Tuesday January 6th to Tuesday January 13th, the WTI crude oil price fell from $47.93 to $45.89 per barrel, according to Nymex futures price data from investing.com. Brent crude prices, meanwhile, also saw a decrease from $51.10 to $47.82 per barrel from Tuesday January 6th to Tuesday January 13th, according to price data from investing.com.

Last 6 Weeks of Large Trader Non-Commercial Positions

Date Open Interest Long Specs Short Specs Net Non-Commercials Weekly Change Oil Price Brent Price
12/09/2014 1445093 413755 151979 261776 -3220 63.82 66.84
12/16/2014 1475862 435032 150953 284079 22303 56.26 60.01
12/23/2014 1428829 412781 131132 281649 -2430 57.12 61.69
12/30/2014 1457729 421184 148700 272484 -9165 54.12 57.9
01/06/2015 1505101 440821 172021 268800 -3684 47.93 51.1
01/13/2015 1627535 485464 209984 275480 6680 45.89 47.82

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).

Article by CountingPips.comForex Trading News


Source: http://countingpips.com/2015/01/crude-oil-speculators-raised-net-bullish-positions-for-1st-time-in-4-weeks/


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    • Ahmed

      Crude Oil is the root of everything in Forex as whatever the movements are happening in currency pairs we like to see that on the Oil movement so it is very important that we understand this. I have been learning this from a long time from the help of my broker OctaFX as they have special team of experts who provide analysis daily on all trading materials including Crude oil which I follow with great interest and have learned so much from it.

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