COT Energy Speculators raised their Natural Gas bearish bets last week

December 27, 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 release was delayed by the CFTC due to the Christmas holiday.

The latest COT data is updated through Tuesday December 21st 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT energy data is the decline in the Natural Gas futures bets. The speculative net position in the Natural Gas futures dropped sharply last week by over -10,000 contracts after improving in the previous four weeks. The speculator position fell by the largest one-week amount of the past fourteen weeks and brought the overall net position to its most bearish level since November 16th. Speculators have now been continually bearish on Natural Gas futures for forty-two straight weeks, dating back to the last net bullish level on March 2nd of this year.

Joining Natural Gas (-10,986 contracts) with declines for the week were Brent Crude Oil (-1,391 contracts), WTI Crude Oil (-6,882 contracts) and the Bloomberg Commodity Index (-1,401 contracts). Heating Oil (174 contracts) and Gasoline (3,719 contracts) had rising speculator bets last week.


Data Snapshot of Commodity Market Traders | Columns Legend
Dec-21-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,892,701 0 340,255 20 -375,816 70 35,561 65
Gold 500,846 19 205,811 53 -236,029 46 30,218 50
Silver 141,119 8 20,926 43 -36,399 63 15,473 30
Copper 170,353 5 4,437 46 -9,777 53 5,340 56
Palladium 9,518 14 -3,639 1 3,985 99 -346 24
Platinum 64,732 30 1,268 4 -7,717 98 6,449 52
Natural Gas 1,142,729 4 -141,212 36 109,551 65 31,661 59
Brent 224,110 58 -25,001 76 22,225 26 2,776 47
Heating Oil 302,721 3 4,897 50 -21,060 49 16,163 54
Soybeans 654,460 11 102,877 56 -72,352 49 -30,525 21
Corn 1,485,412 19 445,320 87 -401,280 15 -44,040 18
Coffee 258,871 28 56,134 89 -57,984 14 1,850 1
Sugar 864,082 9 189,198 75 -210,783 28 21,585 35
Wheat 357,381 11 9,132 55 -1,601 39 -7,531 66

 


WTI Crude Oil Futures:

WTI Crude Oil Futures COT ChartThe WTI Crude Oil Futures large speculator standing this week recorded a net position of 340,255 contracts in the data reported through Tuesday. This was a weekly lowering of -6,882 contracts from the previous week which had a total of 347,137 net contracts.


Free Reports:

Top 5 Companies Added to Our Stock Watch List this Quarter - Here are the Stock Symbols that stood out so far in the fourth quarter of 2021.





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





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 20.2 percent. The commercials are Bullish with a score of 69.8 percent and the small traders (not shown in chart) are Bullish with a score of 65.1 percent.

WTI Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.3 39.1 4.4
– Percent of Open Interest Shorts: 7.3 59.0 2.5
– Net Position: 340,255 -375,816 35,561
– Gross Longs: 478,276 740,195 83,055
– Gross Shorts: 138,021 1,116,011 47,494
– Long to Short Ratio: 3.5 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 20.2 69.8 65.1
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -26.0 25.8 -7.2

 


Brent Crude Oil Futures:

Brent Last Day Crude Oil Futures COT ChartThe Brent Crude Oil Futures large speculator standing this week recorded a net position of -25,001 contracts in the data reported through Tuesday. This was a weekly lowering of -1,391 contracts from the previous week which had a total of -23,610 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 75.8 percent. The commercials are Bearish with a score of 26.1 percent and the small traders (not shown in chart) are Bearish with a score of 46.9 percent.

Brent Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 18.3 45.5 2.7
– Percent of Open Interest Shorts: 29.4 35.6 1.5
– Net Position: -25,001 22,225 2,776
– Gross Longs: 40,921 101,951 6,145
– Gross Shorts: 65,922 79,726 3,369
– Long to Short Ratio: 0.6 to 1 1.3 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 75.8 26.1 46.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -24.2 25.8 -20.3

 


Natural Gas Futures:

Natural Gas Futures COT ChartThe Natural Gas Futures large speculator standing this week recorded a net position of -141,212 contracts in the data reported through Tuesday. This was a weekly decrease of -10,986 contracts from the previous week which had a total of -130,226 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 36.2 percent. The commercials are Bullish with a score of 65.4 percent and the small traders (not shown in chart) are Bullish with a score of 59.2 percent.

Natural Gas Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 19.3 44.3 4.9
– Percent of Open Interest Shorts: 31.6 34.7 2.1
– Net Position: -141,212 109,551 31,661
– Gross Longs: 220,442 506,065 55,722
– Gross Shorts: 361,654 396,514 24,061
– Long to Short Ratio: 0.6 to 1 1.3 to 1 2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 36.2 65.4 59.2
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.3 3.5 -30.6

 


Gasoline Blendstock Futures:

RBOB Gasoline Energy Futures COT ChartThe Gasoline Blendstock Futures large speculator standing this week recorded a net position of 60,153 contracts in the data reported through Tuesday. This was a weekly advance of 3,719 contracts from the previous week which had a total of 56,434 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 31.3 percent. The commercials are Bullish with a score of 73.1 percent and the small traders (not shown in chart) are Bearish with a score of 34.0 percent.

Nasdaq Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.8 44.0 6.1
– Percent of Open Interest Shorts: 13.0 65.1 4.8
– Net Position: 60,153 -63,913 3,760
– Gross Longs: 99,381 133,078 18,347
– Gross Shorts: 39,228 196,991 14,587
– Long to Short Ratio: 2.5 to 1 0.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 31.3 73.1 34.0
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 15.3 -10.0 -30.3

 


#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 recorded a net position of 4,897 contracts in the data reported through Tuesday. This was a weekly lift of 174 contracts from the previous week which had a total of 4,723 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 49.6 percent. The commercials are Bearish with a score of 48.9 percent and the small traders (not shown in chart) are Bullish with a score of 54.3 percent.

Heating Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 13.0 51.6 13.7
– Percent of Open Interest Shorts: 11.3 58.5 8.3
– Net Position: 4,897 -21,060 16,163
– Gross Longs: 39,255 156,088 41,332
– Gross Shorts: 34,358 177,148 25,169
– Long to Short Ratio: 1.1 to 1 0.9 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 49.6 48.9 54.3
– Strength Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -22.3 23.3 -23.3

 


Bloomberg Commodity Index Futures:

Bloomberg Commodity Index Futures COT ChartThe Bloomberg Commodity Index Futures large speculator standing this week recorded a net position of -9,984 contracts in the data reported through Tuesday. This was a weekly lowering of -1,401 contracts from the previous week which had a total of -8,583 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 69.3 percent. The commercials are Bearish with a score of 30.0 percent and the small traders (not shown in chart) are Bearish with a score of 43.9 percent.

Bloomberg Index Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 71.0 25.4 1.2
– Percent of Open Interest Shorts: 96.0 1.5 0.1
– Net Position: -9,984 9,537 447
– Gross Longs: 28,352 10,137 491
– Gross Shorts: 38,336 600 44
– Long to Short Ratio: 0.7 to 1 16.9 to 1 11.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 69.3 30.0 43.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 16.1 -15.2 -11.2

 


Article By InvestMacroReceive our weekly COT Reports by Email

*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.