COT Energy Charts: Brent Crude Oil Speculator bets climb to 3-Year High

November 6, 2021

By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday November 2nd 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting this week’s COT Energy data is once again the Brent Oil (Last Day) contracts which have reached their best speculator position in the past one-hundred and fifty-nine weeks, dating back to October 23rd of 2018. The Brent speculative position has climbed higher for five straight weeks and for eight out the past nine weeks as well. The speculative position for Brent have continually remained in a bearish overall standing since 2013 but have been trending closer to a neutral zone lately. The strength index score (the speculative level compared to the past 3-years and used to show extremes) has risen to a score of 100 percent, showing that speculator bets are 3-year high.


Data Snapshot of Commodity Market Traders | Columns Legend
Nov-02-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,121,461 29 419,293 46 -461,516 44 42,223 75
Gold 507,616 27 215,129 62 -239,877 38 24,748 40
Silver 141,394 8 33,115 55 -48,860 51 15,745 32
Copper 217,216 39 32,335 66 -41,294 31 8,959 77
Palladium 10,926 20 -3,391 0 3,574 100 -183 34
Platinum 56,508 16 15,364 25 -21,964 78 6,600 54
Natural Gas 1,267,227 35 -137,713 37 93,517 60 44,196 91
Brent 183,766 27 -12,714 100 7,688 0 5,026 79
Heating Oil 426,636 66 22,384 75 -45,844 22 23,460 80
Soybeans 620,172 3 58,756 45 -19,885 61 -38,871 7
Corn 1,506,602 22 383,109 79 -320,385 26 -62,724 7
Coffee 310,931 66 64,353 95 -69,264 6 4,911 22
Sugar 884,507 21 209,061 80 -250,849 21 41,788 60
Wheat 409,137 39 17,896 62 -11,141 30 -6,755 69

 


WTI Crude Oil Futures:

WTI Crude Oil Futures COT ChartThe WTI Crude Oil Futures large speculator standing this week resulted in a net position of 419,293 contracts in the data reported through Tuesday. This was a weekly reduction of -4,425 contracts from the previous week which had a total of 423,718 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 45.5 percent. The commercials are Bearish with a score of 44.1 percent and the small traders (not shown in chart) are Bullish with a score of 74.5 percent.


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WTI Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.9 33.2 4.5
– Percent of Open Interest Shorts: 6.1 55.0 2.5
– Net Position: 419,293 -461,516 42,223
– Gross Longs: 548,631 705,007 94,536
– Gross Shorts: 129,338 1,166,523 52,313
– Long to Short Ratio: 4.2 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 45.5 44.1 74.5
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 20.3 -19.6 2.9

 


Brent Crude Oil Futures:

Brent Last Day Crude Oil Futures COT ChartThe Brent Crude Oil Futures large speculator standing this week resulted in a net position of -12,714 contracts in the data reported through Tuesday. This was a weekly advance of 5,096 contracts from the previous week which had a total of -17,810 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish with a score of 79.5 percent.

Brent Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.2 39.6 4.7
– Percent of Open Interest Shorts: 32.1 35.4 2.0
– Net Position: -12,714 7,688 5,026
– Gross Longs: 46,286 72,705 8,677
– Gross Shorts: 59,000 65,017 3,651
– Long to Short Ratio: 0.8 to 1 1.1 to 1 2.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 0.0 79.5
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 36.5 -39.8 25.8

 


Natural Gas Futures:

Natural Gas Futures COT ChartThe Natural Gas Futures large speculator standing this week resulted in a net position of -137,713 contracts in the data reported through Tuesday. This was a weekly boost of 475 contracts from the previous week which had a total of -138,188 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.2 percent. The commercials are Bullish with a score of 60.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 90.9 percent.

Natural Gas Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 19.9 44.6 5.3
– Percent of Open Interest Shorts: 30.8 37.2 1.8
– Net Position: -137,713 93,517 44,196
– Gross Longs: 252,244 565,097 66,820
– Gross Shorts: 389,957 471,580 22,624
– Long to Short Ratio: 0.6 to 1 1.2 to 1 3.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 37.2 60.3 90.9
– COT Index Reading (3 Year Range): Bearish Bullish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.8 -2.1 10.2

 


Gasoline Blendstock Futures:

RBOB Gasoline Energy Futures COT ChartThe Gasoline Blendstock Futures large speculator standing this week resulted in a net position of 49,697 contracts in the data reported through Tuesday. This was a weekly decrease of -1,348 contracts from the previous week which had a total of 51,045 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 20.7 percent. The commercials are Bullish with a score of 78.7 percent and the small traders (not shown in chart) are Bullish with a score of 62.9 percent.

Nasdaq Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.2 42.1 6.6
– Percent of Open Interest Shorts: 19.0 61.2 3.8
– Net Position: 49,697 -58,294 8,597
– Gross Longs: 107,573 128,541 20,227
– Gross Shorts: 57,876 186,835 11,630
– Long to Short Ratio: 1.9 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 20.7 78.7 62.9
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.2 -13.4 2.0

 


#2 Heating Oil NY-Harbor Futures:

NY Harbor Heating Oil Energy Futures COT ChartThe #2 Heating Oil NY-Harbor Futures large speculator standing this week resulted in a net position of 22,384 contracts in the data reported through Tuesday. This was a weekly lowering of -3,407 contracts from the previous week which had a total of 25,791 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 75.4 percent. The commercials are Bearish with a score of 22.4 percent and the small traders (not shown in chart) are Bullish with a score of 79.6 percent.

Heating Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 14.6 52.2 11.2
– Percent of Open Interest Shorts: 9.3 62.9 5.7
– Net Position: 22,384 -45,844 23,460
– Gross Longs: 62,233 222,565 47,794
– Gross Shorts: 39,849 268,409 24,334
– Long to Short Ratio: 1.6 to 1 0.8 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 75.4 22.4 79.6
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -19.9 14.1 1.0

 


Bloomberg Commodity Index Futures:

Bloomberg Commodity Index Futures COT ChartThe Bloomberg Commodity Index Futures large speculator standing this week resulted in a net position of -14,146 contracts in the data reported through Tuesday. This was a weekly advance of 1,028 contracts from the previous week which had a total of -15,174 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.2 percent. The commercials are Bullish with a score of 70.1 percent and the small traders (not shown in chart) are Bullish with a score of 53.1 percent.

Bloomberg Index Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 53.5 40.0 1.9
– Percent of Open Interest Shorts: 90.0 5.2 0.2
– Net Position: -14,146 13,490 656
– Gross Longs: 20,704 15,506 746
– Gross Shorts: 34,850 2,016 90
– Long to Short Ratio: 0.6 to 1 7.7 to 1 8.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 29.2 70.1 53.1
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.7 16.2 12.5

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures 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) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.