CFTC Commitments of Merchants – Crude Oil Worth Slumps as Center East Tensions Ease

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    In line with the CFTC Commitments of Merchants report for the week ended September 24, NET LENGTH for crude oil futures dropped -2 943 contracts to 424 162 for the week. Speculative lengthy positions have been down -1 864 contracts whereas shorts gained +1 079 contracts. Crude oil costs slumped final week as tensions in Center East eased: ceasefire between Saudi Arabia and Yemen and rumors on US’ ease of sanctions on Iran. For refined oil merchandise, NET LENGTH for gasoline gained +5 285 contracts to 56 466, whereas NET SHORT for heating oil elevated +four 064 contracts to five 754 for the week. NET SHORT for pure fuel futures added +1 806 contracts to 124 981 contracts for the week.

    NET LENGTH for gold futures soared +29 845 contracts to 312 444. Speculative lengthy positions jumped +28 882 contracts, whereas shorts dropped -963. Silver futures noticed lower in NET LENGTH, by -5 249 contracts to 50 729. Speculative lengthy positions slipped -623 contracts whereas shorts added +four 626. For PGMs, NET LENGTH of Nymex platinum futures added +1 331 contracts to 34 979 whereas that for palladium added +463 contracts to 12 617.

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