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 July 5th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
Energy market speculator bets were lower this week as just one out of the six energy markets we cover had higher positioning this week while the other five markets had lower contracts.
The only market to show speculator bet gains for energy markets was Brent Crude Oil with a gain of +4,163 contracts. Meanwhile, leading the declines in speculator bets this week were WTI Crude Oil (-19,169 contracts) and Gasoline (-4,078 contracts) with Natural Gas (-1,100 contracts), Heating Oil (-1,022 contracts) and the Bloomberg Commodity Index (-137 contracts) also registering lower bets on the week.
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Strength scores (measuring the 3-Year range of Speculator positions, from 0 to 100 where above 80 percent is extreme bullish and below 20 percent is extreme bearish) show that the Bloomberg Commodity Index (78.8 percent) is above its midpoint for the past 3 years and leads the way for the energy markets in speculator sentiment. Brent oil (46.5 percent) and Heating oil (52 percent) are also positive while WTI Crude (0 percent) and Gasoline (0 percent) are at the bottom of their 3-year ranges and in bearish extreme levels.
Strength score trends (or move index, that calculate 6-week changes in strength scores) shows that Heating oil (18.7 percent) and the Bloomberg Commodity Index (7.8 percent) lead the rising scores over the past six weeks. WTI Crude oil, meanwhile, has been on the largest downtrend with a -17.6 percent score for the past six weeks, followed by Natural Gas (-5.7 percent) and Gasoline (-4.4 percent).
| Jul-05-2022 | OI | OI-Index | Spec-Net | Spec-Index | Com-Net | COM-Index | Smalls-Net | Smalls-Index |
|---|---|---|---|---|---|---|---|---|
| WTI Crude | 1,637,862 | 0 | 280,523 | 0 | -304,217 | 100 | 23,694 | 48 |
| Gold | 498,210 | 13 | 145,660 | 0 | -165,585 | 100 | 19,925 | 0 |
| Silver | 140,463 | 7 | 5,139 | 0 | -11,622 | 100 | 6,483 | 0 |
| Copper | 183,331 | 15 | -31,796 | 19 | 31,340 | 81 | 456 | 28 |
| Palladium | 7,373 | 5 | -3,410 | 4 | 4,104 | 98 | -694 | 4 |
| Platinum | 72,895 | 44 | -2,734 | 0 | -1,670 | 100 | 4,404 | 23 |
| Natural Gas | 977,507 | 0 | -130,519 | 39 | 91,950 | 60 | 38,569 | 71 |
| Brent | 166,711 | 13 | -38,514 | 47 | 37,309 | 55 | 1,205 | 26 |
| Heating Oil | 264,269 | 21 | 6,486 | 52 | -22,775 | 47 | 16,289 | 55 |
| Soybeans | 638,675 | 7 | 125,491 | 52 | -93,638 | 56 | -31,853 | 17 |
| Corn | 1,331,035 | 0 | 260,705 | 63 | -207,441 | 42 | -53,264 | 12 |
| Coffee | 193,731 | 1 | 46,787 | 79 | -49,139 | 25 | 2,352 | 14 |
| Sugar | 713,245 | 0 | 83,512 | 54 | -85,255 | 52 | 1,743 | 10 |
| Wheat | 288,754 | 0 | 8,384 | 30 | 623 | 61 | -9,007 | 64 |
WTI Crude Oil Futures:
The WTI Crude Oil Futures large speculator standing this week equaled a net position of 280,523 contracts in the data reported through Tuesday. This was a weekly reduction of -19,169 contracts from the previous week which had a total of 299,692 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-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 48.4 percent.
| WTI Crude Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 24.1 | 36.8 | 5.0 |
| – Percent of Open Interest Shorts: | 7.0 | 55.3 | 3.5 |
| – Net Position: | 280,523 | -304,217 | 23,694 |
| – Gross Longs: | 394,943 | 601,996 | 81,558 |
| – Gross Shorts: | 114,420 | 906,213 | 57,864 |
| – Long to Short Ratio: | 3.5 to 1 | 0.7 to 1 | 1.4 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 0.0 | 100.0 | 48.4 |
| – Strength Index Reading (3 Year Range): | Bearish-Extreme | Bullish-Extreme | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -17.6 | 23.1 | -22.8 |
Brent Crude Oil Futures:
The Brent Crude Oil Futures large speculator standing this week equaled a net position of -38,514 contracts in the data reported through Tuesday. This was a weekly lift of 4,163 contracts from the previous week which had a total of -42,677 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 46.5 percent. The commercials are Bullish with a score of 55.3 percent and the small traders (not shown in chart) are Bearish with a score of 25.5 percent.
| Brent Crude Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 15.4 | 52.4 | 4.1 |
| – Percent of Open Interest Shorts: | 38.5 | 30.0 | 3.4 |
| – Net Position: | -38,514 | 37,309 | 1,205 |
| – Gross Longs: | 25,605 | 87,320 | 6,881 |
| – Gross Shorts: | 64,119 | 50,011 | 5,676 |
| – Long to Short Ratio: | 0.4 to 1 | 1.7 to 1 | 1.2 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 46.5 | 55.3 | 25.5 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 1.3 | -0.3 | -8.1 |
Natural Gas Futures:
The Natural Gas Futures large speculator standing this week equaled a net position of -130,519 contracts in the data reported through Tuesday. This was a weekly decline of -1,100 contracts from the previous week which had a total of -129,419 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 39.4 percent. The commercials are Bullish with a score of 59.9 percent and the small traders (not shown in chart) are Bullish with a score of 71.4 percent.
| Natural Gas Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 20.2 | 40.6 | 6.8 |
| – Percent of Open Interest Shorts: | 33.6 | 31.2 | 2.8 |
| – Net Position: | -130,519 | 91,950 | 38,569 |
| – Gross Longs: | 197,937 | 397,060 | 66,331 |
| – Gross Shorts: | 328,456 | 305,110 | 27,762 |
| – Long to Short Ratio: | 0.6 to 1 | 1.3 to 1 | 2.4 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 39.4 | 59.9 | 71.4 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -5.7 | 8.9 | -21.6 |
Gasoline Blendstock Futures:
The Gasoline Blendstock Futures large speculator standing this week equaled a net position of 28,021 contracts in the data reported through Tuesday. This was a weekly decrease of -4,078 contracts from the previous week which had a total of 32,099 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-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 43.9 percent.
| Nasdaq Mini Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 26.9 | 52.7 | 7.5 |
| – Percent of Open Interest Shorts: | 16.6 | 64.7 | 5.7 |
| – Net Position: | 28,021 | -32,693 | 4,672 |
| – Gross Longs: | 72,955 | 142,761 | 20,221 |
| – Gross Shorts: | 44,934 | 175,454 | 15,549 |
| – Long to Short Ratio: | 1.6 to 1 | 0.8 to 1 | 1.3 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 0.0 | 100.0 | 43.9 |
| – Strength Index Reading (3 Year Range): | Bearish-Extreme | Bullish-Extreme | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -4.4 | 10.5 | -43.3 |
#2 Heating Oil NY-Harbor Futures:
The #2 Heating Oil NY-Harbor Futures large speculator standing this week equaled a net position of 6,486 contracts in the data reported through Tuesday. This was a weekly fall of -1,022 contracts from the previous week which had a total of 7,508 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 52.0 percent. The commercials are Bearish with a score of 47.0 percent and the small traders (not shown in chart) are Bullish with a score of 54.8 percent.
| Heating Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 15.0 | 52.7 | 16.0 |
| – Percent of Open Interest Shorts: | 12.5 | 61.3 | 9.9 |
| – Net Position: | 6,486 | -22,775 | 16,289 |
| – Gross Longs: | 39,513 | 139,296 | 42,410 |
| – Gross Shorts: | 33,027 | 162,071 | 26,121 |
| – Long to Short Ratio: | 1.2 to 1 | 0.9 to 1 | 1.6 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 52.0 | 47.0 | 54.8 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 18.7 | -12.3 | -3.9 |
Bloomberg Commodity Index Futures:
The Bloomberg Commodity Index Futures large speculator standing this week equaled a net position of -7,486 contracts in the data reported through Tuesday. This was a weekly lowering of -137 contracts from the previous week which had a total of -7,349 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 78.8 percent. The commercials are Bearish with a score of 21.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.1 percent.
| Bloomberg Index Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 27.4 | 66.8 | 0.5 |
| – Percent of Open Interest Shorts: | 38.4 | 56.1 | 0.2 |
| – Net Position: | -7,486 | 7,242 | 244 |
| – Gross Longs: | 18,524 | 45,230 | 367 |
| – Gross Shorts: | 26,010 | 37,988 | 123 |
| – Long to Short Ratio: | 0.7 to 1 | 1.2 to 1 | 3.0 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 78.8 | 21.1 | 19.1 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bearish-Extreme |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 7.8 | -6.8 | -10.4 |
Article By InvestMacro – Receive 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.
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