CFTC Commitments of Merchants – Bets for Larger Crude Value Possible Brief-Lived

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    In response to the CFTC Commitments of Merchants report for the week ended September 10, NET LENGTH for crude oil futures jumped +44 048 contracts to 428 205 for the week. Speculative lengthy positions soared +18 639 contracts and shorts plunged -25 409 contracts. The front-month WTI crude oil contract rallied final week. Market sentiment improved as China exempted 16 varieties of US exports from tariff. This could possible be non permanent. For refined oil merchandise, NET LENGTH for gasoline gained +2 486 contracts to 49 246, whereas NET SHORT for heating oil decreased -Three 498 contracts to 2 941 for the week. NET SHORT for pure gasoline futures plunged -20 431 contracts to 150 429 contracts for the week. NET LENGTH for gold futures declined -30 822 contracts to 269 725. Speculative lengthy positions fell -31 271 contracts, whereas shorts dropped -449. Silver futures additionally seen lower in NET LENGTH, by -1 894 contracts to 60 231. Speculative lengthy positions fell -Four 564 contracts whereas shorts slipped -2 670. For PGMs, NET LENGTH of Nymex platinum futures added +1 760 contracts to 34 919 whereas that for palladium added +550 contracts to 11 621.

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