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


    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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