COT Week 31 Charts: Energy Speculators push bets higher led by Brent Crude Oil & Gasoline

August 6, 2022

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 August 2nd and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes

COT energy market speculator bets were higher this week as four out of the six energy markets we cover had higher positioning this week while the other two markets recorded lower contracts on the week.

Leading the gains for energy markets was Brent Crude Oil (8,700 contracts) with Gasoline (5,414 contracts), Heating Oil (3,384 contracts) and the Bloomberg Commodity Index (3,040 contracts) also showing positive weeks.


Free Reports:

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.





Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





The energy markets with declines in speculator bets this week were Natural Gas (-6,683 contracts) and WTI Crude Oil with a week change of -5,508 contracts for the week.


Data Snapshot of Commodity Market Traders | Columns Legend
Aug-02-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,606,910 3 253,752 0 -272,866 100 19,114 42
Gold 459,649 2 124,326 12 -135,565 90 11,239 0
Silver 136,267 3 974 7 -9,064 93 8,090 8
Copper 184,441 16 -27,406 23 27,672 78 -266 24
Palladium 6,945 3 -2,560 8 2,743 90 -183 33
Platinum 68,266 36 -2,541 5 -1,708 96 4,249 21
Natural Gas 984,570 5 -124,973 41 87,596 58 37,377 69
Brent 171,751 17 -32,782 56 31,835 46 947 22
Heating Oil 276,520 26 22,068 75 -35,389 34 13,321 44
Soybeans 572,925 0 92,527 42 -65,632 64 -26,895 26
Corn 1,347,894 6 201,355 56 -149,434 51 -51,921 13
Coffee 207,740 12 27,284 62 -27,968 44 684 6
Sugar 760,093 11 34,438 44 -35,229 61 791 9
Wheat 316,244 12 -725 18 10,888 75 -10,163 58

 


Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Heating Oil (74.9 percent) leads the energy markets currently and is up from 69.9 percent last week. The Bloomberg Commodity Index (59.2 percent) comes in as the next highest energy market followed by Brent Crude Oil (56.2 percent). On the downside, WTI Crude Oil (0.0 percent) remains at the bottom of its three-year range and is in a bearish extreme level. Gasoline (22.9 percent) comes in as the next lowest followed by Natural Gas (41.1 percent).

Strength Statistics:
WTI Crude Oil (0.0 percent) vs WTI Crude Oil previous week (1.6 percent)
Brent Crude Oil (56.2 percent) vs Brent Crude Oil previous week (41.6 percent)
Natural Gas (41.1 percent) vs Natural Gas previous week (43.1 percent)
Gasoline (22.9 percent) vs Gasoline previous week (17.4 percent)
Heating Oil (74.9 percent) vs Heating Oil previous week (69.9 percent)
Bloomberg Commodity Index (59.2 percent) vs Bloomberg Commodity Index previous week (47.6 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that the Gasoline (19.5 percent) leads the past six weeks trends for energy this week. Heating Oil (18.4 percent), Brent Crude Oil (8.8 percent) and the Natural Gas (1.8 percent) fill out the other positive movers in the latest trends data. The Bloomberg Commodity Index (-17.5 percent) leads the downside trend scores currently followed by WTI Crude Oil at -10.7 percent.


Strength Trend Statistics:
WTI Crude Oil (-10.7 percent) vs WTI Crude Oil previous week (-13.0 percent)
Brent Crude Oil (8.8 percent) vs Brent Crude Oil previous week (-8.6 percent)
Natural Gas (1.8 percent) vs Natural Gas previous week (1.6 percent)
Gasoline (19.5 percent) vs Gasoline previous week (14.0 percent)
Heating Oil (18.4 percent) vs Heating Oil previous week (15.0 percent)
Bloomberg Commodity Index (-17.5 percent) vs Bloomberg Commodity Index previous week (-28.1 percent)


Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week resulted in a net position of 253,752 contracts in the data reported through Tuesday. This was a weekly reduction of -5,508 contracts from the previous week which had a total of 259,260 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 41.9 percent.

WTI Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 22.5 38.4 4.6
– Percent of Open Interest Shorts: 6.7 55.4 3.4
– Net Position: 253,752 -272,866 19,114
– Gross Longs: 361,810 616,741 74,356
– Gross Shorts: 108,058 889,607 55,242
– Long to Short Ratio: 3.3 to 1 0.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 0.0 100.0 41.9
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.7 15.2 -21.6

 


Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week resulted in a net position of -32,782 contracts in the data reported through Tuesday. This was a weekly gain of 8,700 contracts from the previous week which had a total of -41,482 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 56.2 percent. The commercials are Bearish with a score of 46.2 percent and the small traders (not shown in chart) are Bearish with a score of 22.0 percent.

Brent Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.3 50.3 4.0
– Percent of Open Interest Shorts: 35.4 31.8 3.4
– Net Position: -32,782 31,835 947
– Gross Longs: 28,074 86,415 6,872
– Gross Shorts: 60,856 54,580 5,925
– Long to Short Ratio: 0.5 to 1 1.6 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 56.2 46.2 22.0
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 8.8 -7.0 -13.7

 


Natural Gas Futures:

The Natural Gas Futures large speculator standing this week resulted in a net position of -124,973 contracts in the data reported through Tuesday. This was a weekly decline of -6,683 contracts from the previous week which had a total of -118,290 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 41.1 percent. The commercials are Bullish with a score of 58.5 percent and the small traders (not shown in chart) are Bullish with a score of 68.6 percent.

Natural Gas Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 17.7 40.1 6.8
– Percent of Open Interest Shorts: 30.4 31.2 3.0
– Net Position: -124,973 87,596 37,377
– Gross Longs: 174,529 394,371 66,623
– Gross Shorts: 299,502 306,775 29,246
– 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): 41.1 58.5 68.6
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.8 0.5 -17.7

 


Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week resulted in a net position of 50,818 contracts in the data reported through Tuesday. This was a weekly increase of 5,414 contracts from the previous week which had a total of 45,404 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 22.9 percent. The commercials are Bullish with a score of 76.4 percent and the small traders (not shown in chart) are Bullish with a score of 55.9 percent.

Nasdaq Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.1 46.8 7.5
– Percent of Open Interest Shorts: 11.0 69.4 4.9
– Net Position: 50,818 -57,295 6,477
– Gross Longs: 78,784 118,686 19,000
– Gross Shorts: 27,966 175,981 12,523
– Long to Short Ratio: 2.8 to 1 0.7 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 22.9 76.4 55.9
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 19.5 -14.6 -27.9

 


#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week resulted in a net position of 22,068 contracts in the data reported through Tuesday. This was a weekly boost of 3,384 contracts from the previous week which had a total of 18,684 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 74.9 percent. The commercials are Bearish with a score of 33.6 percent and the small traders (not shown in chart) are Bearish with a score of 44.5 percent.

Heating Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.8 52.7 14.8
– Percent of Open Interest Shorts: 8.8 65.5 9.9
– Net Position: 22,068 -35,389 13,321
– Gross Longs: 46,505 145,844 40,829
– Gross Shorts: 24,437 181,233 27,508
– Long to Short Ratio: 1.9 to 1 0.8 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 74.9 33.6 44.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 18.4 -7.7 -18.4

 


Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week resulted in a net position of -12,623 contracts in the data reported through Tuesday. This was a weekly advance of 3,040 contracts from the previous week which had a total of -15,663 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 59.2 percent. The commercials are Bearish with a score of 40.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.7 percent.

Bloomberg Index Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.5 74.4 0.6
– Percent of Open Interest Shorts: 42.4 55.9 0.2
– Net Position: -12,623 12,388 235
– Gross Longs: 15,791 49,891 373
– Gross Shorts: 28,414 37,503 138
– Long to Short Ratio: 0.6 to 1 1.3 to 1 2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 59.2 40.9 18.7
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.5 17.8 -2.1

 


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.

contributors

Share
Published by
contributors

Recent Posts

Canadian dollar declines after weak GDP data. Qatar threatens EU to halt natural gas exports

By JustMarkets At Monday’s close, the Dow Jones Index (US30) was up 0.16%. The S&P…

1 day ago

US Dollar Index Speculator bets rise for 1st time in 7 weeks, AUD bets plunge

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

3 days ago

Speculator Extremes: New Zealand Dollar, Euro & CAD lead Bearish Positions

By InvestMacro  The latest update for the weekly Commitment of Traders (COT) report was released…

4 days ago

COT Bonds Charts: Speculator Bets led by SOFR 3-Months & 10-Year Bonds

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

4 days ago

COT Metals Charts: Speculator Bets led lower by Gold, Copper & Palladium

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

4 days ago

This website uses cookies.