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COT Week 32 Charts: Energy Speculators bets fall led by WTI Crude Oil, Gasoline & Brent

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 9nd 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 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.

Leading the gains for energy markets was Heating Oil (2,396 contracts) which was the only market this week showing increasing speculator bets.

The energy markets leading the declines in speculator bets this week were WTI Crude Oil (-43,101 contracts) and Gasoline (-5,312 contracts) with Brent Crude Oil (-1,429 contracts), Natural Gas (-446 contracts) and the Bloomberg Commodity Index (-33 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Aug-09-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,570,131	0	210,651	0	-238,073	100	27,422	53
Gold	453,540	0	142,851	19	-154,554	83	11,703	1
Silver	141,093	8	2,879	9	-13,574	89	10,695	21
Copper	187,988	21	-28,477	22	27,700	78	777	30
Palladium	7,619	6	-1,970	12	2,044	86	-74	40
Platinum	62,782	26	846	9	-4,055	93	3,209	7
Natural Gas	969,582	3	-125,419	41	86,734	58	38,685	72
Brent	175,896	21	-34,211	54	32,411	47	1,800	34
Heating Oil	283,749	29	24,464	78	-36,472	32	12,008	40
Soybeans	583,208	2	88,901	41	-62,971	65	-25,930	27
Corn	1,317,913	1	210,786	57	-160,654	49	-50,132	14
Coffee	209,446	13	30,453	65	-31,268	41	815	7
Sugar	765,669	12	26,065	42	-30,608	62	4,543	13
Wheat	320,767	14	-3,426	15	9,939	74	-6,513	77

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 (78.4 percent) remains the leader in energy market strength scores. The Bloomberg Commodity Index (59.1 percent) and Brent Crude Oil (53.8 percent) come in as the next highest energy markets in strength scores and both are above 50 percent or the midpoint of their 3-year ranges. On the downside, WTI Crude Oil (0.0 percent) comes in at the lowest strength level currently and is at the bottom of its 3-year range. Joining WTI in a bearish extreme position (below 20 percent) is Gasoline at a 17.5 percent score.

Strength Statistics:
WTI Crude Oil (0.0 percent) vs WTI Crude Oil previous week (11.4 percent)
Brent Crude Oil (53.8 percent) vs Brent Crude Oil previous week (56.2 percent)
Natural Gas (40.9 percent) vs Natural Gas previous week (41.1 percent)
Gasoline (17.5 percent) vs Gasoline previous week (22.9 percent)
Heating Oil (78.4 percent) vs Heating Oil previous week (74.9 percent)
Bloomberg Commodity Index (59.1 percent) vs Bloomberg Commodity Index previous week (59.2 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Heating Oil (24.9 percent) leads the past six weeks trends for energy this week. Brent Crude Oil (14.2 percent) and Gasoline (13.4 percent) fill out the next top movers in the latest trends data. WTI Crude Oil (-23.5 percent) leads the downside trend scores currently while the next market with lower trend scores is the Bloomberg Commodity Index (-20.3 percent).

Strength Trend Statistics:
WTI Crude Oil (-23.5 percent) vs WTI Crude Oil previous week (-9.4 percent)
Brent Crude Oil (14.2 percent) vs Brent Crude Oil previous week (8.8 percent)
Natural Gas (1.2 percent) vs Natural Gas previous week (1.8 percent)
Gasoline (13.4 percent) vs Gasoline previous week (19.5 percent)
Heating Oil (24.9 percent) vs Heating Oil previous week (18.4 percent)
Bloomberg Commodity Index (-20.3 percent) vs Bloomberg Commodity Index previous week (-17.5 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week equaled a net position of 210,651 contracts in the data reported through Tuesday. This was a weekly decline of -43,101 contracts from the previous week which had a total of 253,752 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 Bullish with a score of 52.7 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	21.5	40.6	4.9
– Percent of Open Interest Shorts:	8.1	55.7	3.2
– Net Position:	210,651	-238,073	27,422
– Gross Longs:	338,172	636,980	76,995
– Gross Shorts:	127,521	875,053	49,573
– Long to Short Ratio:	2.7 to 1	0.7 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	52.7
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-23.5	24.3	-1.2

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week equaled a net position of -34,211 contracts in the data reported through Tuesday. This was a weekly fall of -1,429 contracts from the previous week which had a total of -32,782 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 53.8 percent. The commercials are Bearish with a score of 47.2 percent and the small traders (not shown in chart) are Bearish with a score of 33.6 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.0	49.9	3.9
– Percent of Open Interest Shorts:	37.4	31.5	2.9
– Net Position:	-34,211	32,411	1,800
– Gross Longs:	31,578	87,846	6,819
– Gross Shorts:	65,789	55,435	5,019
– Long to Short Ratio:	0.5 to 1	1.6 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.8	47.2	33.6
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.2	-15.0	7.5

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week equaled a net position of -125,419 contracts in the data reported through Tuesday. This was a weekly decrease of -446 contracts from the previous week which had a total of -124,973 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 40.9 percent. The commercials are Bullish with a score of 58.2 percent and the small traders (not shown in chart) are Bullish with a score of 71.7 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.5	41.7	7.0
– Percent of Open Interest Shorts:	30.5	32.7	3.0
– Net Position:	-125,419	86,734	38,685
– Gross Longs:	169,972	404,077	67,512
– Gross Shorts:	295,391	317,343	28,827
– 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):	40.9	58.2	71.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.2	-1.3	0.2

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week equaled a net position of 45,506 contracts in the data reported through Tuesday. This was a weekly lowering of -5,312 contracts from the previous week which had a total of 50,818 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 17.5 percent. The commercials are Bullish-Extreme with a score of 83.1 percent and the small traders (not shown in chart) are Bearish with a score of 44.4 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.8	48.8	7.6
– Percent of Open Interest Shorts:	11.6	68.8	5.7
– Net Position:	45,506	-50,254	4,748
– Gross Longs:	74,516	122,093	18,926
– Gross Shorts:	29,010	172,347	14,178
– Long to Short Ratio:	2.6 to 1	0.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	17.5	83.1	44.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.4	-7.5	-37.3

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week equaled a net position of 24,464 contracts in the data reported through Tuesday. This was a weekly gain of 2,396 contracts from the previous week which had a total of 22,068 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 78.4 percent. The commercials are Bearish with a score of 32.4 percent and the small traders (not shown in chart) are Bearish with a score of 39.9 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.1	52.6	14.4
– Percent of Open Interest Shorts:	7.5	65.5	10.2
– Net Position:	24,464	-36,472	12,008
– Gross Longs:	45,620	149,372	40,817
– Gross Shorts:	21,156	185,844	28,809
– Long to Short Ratio:	2.2 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	78.4	32.4	39.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	24.9	-11.4	-21.6

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week equaled a net position of -12,656 contracts in the data reported through Tuesday. This was a weekly decline of -33 contracts from the previous week which had a total of -12,623 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 59.1 percent. The commercials are Bearish with a score of 40.9 percent and the small traders (not shown in chart) are Bearish with a score of 20.5 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.9	74.0	0.6
– Percent of Open Interest Shorts:	42.7	55.7	0.2
– Net Position:	-12,656	12,375	281
– Gross Longs:	16,115	49,878	386
– Gross Shorts:	28,771	37,503	105
– Long to Short Ratio:	0.6 to 1	1.3 to 1	3.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.1	40.9	20.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-20.3	20.5	-1.1

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.

11 Aug

Boosting renewable energy use can happen quickly – and reduce harm to low-income people if done thoughtfully

By Erin Baker, UMass Amherst

With many nations making efforts to transition away from fossil fuels to renewable energy, SciLine interviewed Erin Baker, a professor of industrial engineering and operations at UMass Amherst. Baker discussed the technological, political and regulatory efforts needed for this transition, as well as ways that our fossil fuel-dependent system disproportionately harms poor communities and communities of color.

The Conversation has collaborated with SciLine to bring you highlights from the discussion, which have been edited for brevity and clarity.

How is our country doing at making the transition to renewable energy?

Erin Baker: There has been amazing technological change over the past 15 years. Offshore wind costs 50% less than it did six years ago. Solar has had a sixfold decrease in costs since 2010. And I think there’s a lot of evidence that technology will adapt and improve if we set the goals and incentives for it.

In terms of policy and regulations, we are moving forward, but we need to be more aggressive. Something that we’re missing and that would be really helpful would be a coherent, federal-level climate policy – whether that is regulatory policy, such as we have for pollution, or a carbon tax or some kind of a cap. The Inflation Reduction Act would be a fantastic starting point if it becomes law.

A good example of something that has been done is President Biden’s move to coordinate and streamline the federal approval process for offshore wind. There are seven federal agencies involved, and having them all separate and moving at their own pace was really difficult for offshore wind energy developers. So Biden has coordinated that, and that’s fantastic. But there are tens of local and state-level agencies and processes that developers still have to go through. It would be really great if we could figure out ways to coordinate and streamline those.

How does our current energy system disproportionately harm poor communities and communities of color?

Erin Baker: Unfortunately, in a lot of different ways. Polluting facilities tend to be located disproportionally in areas that are low income and home to people of color, which can lead to negative health outcomes. Also, in the Texas blackout last winter that killed around 250 people, some research done by my colleague Jay Teneja showed that the long blackouts were four times as likely in communities of color as in predominantly white communities. And, unfortunately, the energy transition won’t necessarily be any more equitable.

For example, it’s common for states to subsidize rooftop solar. And this is good, but the people who get the subsidies are people who own roofs with sun shining on them. People who live in apartments and in cities don’t have access to this, and yet they’re paying for the subsidies. We take the money for the subsidies from everyone, including low-income people, and send them mostly to white, wealthy suburbs.

How can injustices in our energy system be rectified?

Erin Baker: There’s obviously no one solution, but there are a couple of categories of things we can do. One thing that would be really helpful would be to collect data. We have very little data about energy equity issues.

We also need to involve and listen to the traditionally marginalized communities that are most affected by the inequities.

What do you think of the federal and state targets set for offshore wind?

Erin Baker: The Biden administration set a target for 30 gigawatts by 2030. That’s an ambitious goal, since in 2019 the entire world had only 30 GW. But it’s growing rapidly, with global capacity at an astounding 56 GW.

Having this goal of 30 gigawatts helps to organize the supply chain – all the pieces that need to get done for this to happen. We need people who know how to install offshore wind farms. We need special ships. We need planning for transmission. Having these goals really helps to organize all that and make sure all these pieces are in place.

What are the environmental costs and benefits of offshore wind?

Erin Baker: Offshore wind is a really promising technology. The ocean has really good wind resources. And it’s near population centers – we have lots of cities up and down the coasts. Because wind energy is carbon-free, it will provide benefits by reducing emissions and reducing costs.

Some of the work I’ve done has shown that there are billions, and maybe even trillions, of dollars of climate value in offshore wind. We lose between US$10 million and $150 million per year per wind farm by delaying them. We really want to keep these large global environmental benefits in mind as we plan. These can be balanced against local environmental costs and benefits, as well as other factors, like jobs.

In terms of local environmental benefits, when you build an offshore wind farm, the stuff underneath the water ends up creating an artificial reef and actually increasing sea life in that area, which is a benefit.

Negatively, they interfere with bird migrations. Birds don’t actually fly into the wind turbines that much. They fly around them. But if there are a lot of wind farms, that’s a lot of flying around, and that can be hard on the birds. And some animals, like right whales, can get caught in mooring lines if we have floating wind turbines. So, there are local environmental costs. What we need to do is balance these with the global benefits from addressing climate change.

Are you hopeful about our ability to address climate change?

Erin Baker: I am optimistic that we can solve climate change, because humans are very inventive. My work on technological change has shown that once we have a goal or incentive, we tend to improve technologies much faster than we ever predicted. So I think we can be ambitious. We can aim for net-zero by 2030 instead of 2050. And we can solve climate change while at the same time stimulating innovation, fueling growth and increasing quality of life. But we have to set these goals. To access the benefits of the energy transition, we really need to act boldly and decisively.

Watch the full interview to hear more about what’s required for a just, renewable energy transition.

SciLine is a free service based at the nonprofit American Association for the Advancement of Science that helps journalists include scientific evidence and experts in their news stories.

About the Author:

Erin Baker, Professor of Industrial Engineering Applied to Energy Policy, UMass Amherst

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Energy Financial News

08 Aug

Brent is Stressed and Continues to Decline

By RoboForex Analytical Department

The commodity market suffered another stress last week. On Monday, the situation reached stability, but it remains quite complicated; Brent is trading at $95.60.

The asset closed last trading week near its 5-month lows.

The key reason for these negative vibes is the same’ global expectations of a worldwide recession. Economic slumps all over the world will eventually lead to a decline in demand for fuel, hence a drop in energy prices.

Another local factor that puts pressure on is the USD strengthening.

Last Friday’s report from Baker Hughes showed that over the past week, the Oil Rig Count in the US lost 7 units, down to 598. In Canada, the indicator increased by 3 units, up to 140. Shale oil companies are in no hurry to invest more money in production.

On the H4 chart, after breaking 100.00 downwards, Brent is still correcting and has already reached the short-term target at 94.80. Possibly, today the pair may form one more ascending structure to test 99.90 from below and then complete the descending wave by reaching 90.00. After that, the instrument may resume trading upwards with the target at 122.00. From the technical point of view, this scenario is confirmed by the MACD Oscillator: its signal line is moving near the lows outside the histogram area and may later grow to reach 0.

As we can see in the H1 chart, after finishing the descending correctional structure at 95.15, Brent is consolidating above this level. Possibly, the asset may break the range to the upside and start another growth with the target at 100.00. Later, the market may resume falling to reach 90.00. From the technical point of view, this idea is confirmed by the Stochastic Oscillator: its signal line is moving near the highs above 80. Later, the line may fall to break 50 and continue falling to reach 20.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Energy Financial News

06 Aug

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

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.

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.

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 InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News investing

01 Aug

Crude Oil Prices Continue to Be Under Pressure

By RoboForex Analytical Department

The commodity sector remains rather tense on Monday; Brent is trading at $102.75.

Global geopolitics is what investors are focused on right now. Any complications in this area muddy the water one way or another, and it’s bad news. Last weekend, the Kosovo situation escalated – a gas pipeline “Balkan Stream” is going through Serbia, which doesn’t recognise the independence of Kosovo. The pipeline delivers natural gas from “TurkStream” to Hungary.

Later this week, OPEC and OPECF+ will have meetings. The OPEC+ agreement is ending in August and the organisations are set to discuss options to increase oil production. First of all, it depends on Saudi Arabia, a country that still has the potential for oil extraction expansion. However, Saudis don’t seem to be interested in it.

The latest report from Baker Hughes showed that over the past week, the Oil Rig Count in the US gained 6 units, up to 605. In Canada, the indicator increased by 13 units, up to 137.

On the H4 chart, Brent is forming the third ascending wave with the target at 111.55 and may later correct down to 106.16. After that, the instrument may resume trading upwards with the short-term target at 118.80. From the technical point of view, this scenario is confirmed by the MACD Oscillator: its signal line is moving above 0 inside the histogram area. Both the line and the price chart may yet continue to move upwards.

As we can see in the H1 chart, after finishing the descending correctional structure at 106.16, Brent is consolidating above this level. Possibly, the asset may break the range to the upside and start another growth with the target at 111.55, or even extends this structure up to 118.70. From the technical point of view, this idea is confirmed by the Stochastic Oscillator: after breaking 20, its signal line is heading towards 50. Later, the line may break the latter level and continue growing to reach 80.

Disclaimer

Energy Financial News

01 Aug

Chart Spotlight: Tellurian Inc. (TELL)

By Ino.com

Natural gas prices are exploding.

For one, Russia said it would cut natural gas shipments to Europe.

In fact, as noted by Barron’s, “Russian company Gazprom said on Monday that it will cut natural gas shipments from the key Nord Stream pipeline to Germany starting this week. The pipeline’s exports will be cut to 20% of capacity, down from 40%, because of a sanctions-related issue with turbines serving the pipeline.”

Two, there are drought conditions in the U.S., and a heat wave forcing millions to turn up their air conditioners to full blast.

Three, according to EQT CEO Toby Rice, as quoted by Barron’s, “In the United States, we’ve got the natural gas here, we’ll be fine. But you think about our allies in Europe, and the tremendous power and influence that Russia has on these countries. Clearly, we need to take away the gun, and provide the energy to our allies around the world.”

All could create a big opportunity for natural gas stocks, like Tellurian (TELL).

Tellurian – a $2.1 billion company – is “building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide.”

Better, the company could benefit from a substantial shortage of natural gas.

In fact, according to its latest investor deck, geopolitics and energy security providing a step change in global LNG demand. Tellurian notes there’s (1) underinvestment in energy and post-CV structural growth have collided with a geopolitical crisis; (2) A need to replace 20 Bcf/d of Russian gas to Europe, equivalent to ~35% of the world’s LNG market; (3) Natural gas shortage expected to lead to catastrophic consequences.

Technically, according to MarketClub, shares of TELL are slightly overbought. The MarketClub Smart Scan also gives the stock a score of +60, which tells us at the moment, the stock is struggling to move in a solid trend.

However, with natural gas prices showing no signs of cooling off, I’d like to see the stock run from a current price of $3.68 to $5, near-term.

The MarketClub Trade Triangles are also mostly green.

While it’s telling us that the longer-term trend has been down over the last month, the intermediate trend has been strong since mid-July. In addition, the short-term trend, according to Market Club, has been up since mid-July as well.

Source: MarketClub

Ian Cooper
INO.com Contributor

The above analysis of Tellurian Inc. (TELL) was provided by financial writer Ian Cooper. Ian Cooper is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Ian Cooper expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.

By Ino.com – See our Trader Blog, INO TV Free & Market Analysis Alerts

Source: Chart Spotlight: Tellurian Inc. (TELL)

Energy Financial News

30 Jul

COT Week 30 Charts: Energy Speculator bets rise higher led by Heating Oil & Gasoline

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 26th 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 overall higher this week as four out of the six energy markets we cover had higher positioning this week while the other two markets had lower contracts.

Leading the gains for energy markets was Heating Oil (9,441 contracts) with Gasoline (5,588 contracts), Natural Gas (2,033 contracts) and Brent Crude Oil (-180 contracts) also showing positive weeks.

The energy markets leading the declines in speculator bets this week were WTI Crude Oil (-11,831 contracts) and the Bloomberg Commodity Index (-1,535 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jul-26-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,597,451	2	259,260	0	-283,489	100	24,229	49
Gold	487,515	10	92,690	0	-108,422	100	15,732	0
Silver	147,784	14	-4,500	0	-2,653	100	7,153	4
Copper	183,958	15	-26,562	23	26,839	78	-277	24
Palladium	7,124	4	-3,408	4	3,894	97	-486	16
Platinum	73,423	45	-4,468	2	-171	98	4,639	27
Natural Gas	976,126	4	-118,290	43	83,028	57	35,262	64
Brent	177,837	22	-41,482	42	40,557	61	925	22
Heating Oil	269,127	23	18,684	70	-33,531	36	14,847	50
Soybeans	583,850	0	85,241	40	-57,573	66	-27,668	24
Corn	1,320,768	2	186,528	54	-138,899	52	-47,629	16
Coffee	199,536	5	28,641	64	-28,867	43	226	2
Sugar	722,469	4	64,103	50	-65,756	56	1,653	10
Wheat	301,674	6	25	19	8,068	71	-8,093	68

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) show that Heating Oil (69.9 percent) leads the energy markets this week and is up from 56.0 percent last week. The Bloomberg Commodity Index (47.6 percent) comes in as the next highest energy market in strength scores but has been down-trending in past weeks followed by Natural Gas (43.1 percent) and Brent Crude Oil (41.6 percent). On the downside, the WTI Crude Oil (0.0 percent) comes in at the lowest strength level currently and is at the bottom of its three-year range. Gasoline (17.4 percent) is the next lowest and joins the WTI Crude in a bearish extreme level (under 20 percent).

Strength Statistics:
WTI Crude Oil (0.0 percent) vs WTI Crude Oil previous week (3.6 percent)
Brent Crude Oil (41.6 percent) vs Brent Crude Oil previous week (41.9 percent)
Natural Gas (43.1 percent) vs Natural Gas previous week (42.5 percent)
Gasoline (17.4 percent) vs Gasoline previous week (11.8 percent)
Heating Oil (69.9 percent) vs Heating Oil previous week (56.0 percent)
Bloomberg Commodity Index (47.6 percent) vs Bloomberg Commodity Index previous week (53.4 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Heating Oil (15.0 percent) has the highest six-week trend for energy this week. Gasoline (14.0 percent) and Natural Gas (1.6 percent) fill out the only other positive movers in the latest trends data. The Bloomberg Commodity Index (-28.1 percent) leads the downside trend scores currently while the next market with lower trend scores were WTI Crude Oil (-13.2 percent) followed by Brent Crude Oil (-8.6 percent).

Strength Trend Statistics:
WTI Crude Oil (-13.2 percent) vs WTI Crude Oil previous week (-17.3 percent)
Brent Crude Oil (-8.6 percent) vs Brent Crude Oil previous week (-8.7 percent)
Natural Gas (1.6 percent) vs Natural Gas previous week (-1.8 percent)
Gasoline (14.0 percent) vs Gasoline previous week (9.4 percent)
Heating Oil (15.0 percent) vs Heating Oil previous week (6.4 percent)
Bloomberg Commodity Index (-28.1 percent) vs Bloomberg Commodity Index previous week (-22.0 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week reached a net position of 259,260 contracts in the data reported through Tuesday. This was a weekly decline of -11,831 contracts from the previous week which had a total of 271,091 net contracts.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.1	37.2	5.0
– Percent of Open Interest Shorts:	6.8	55.0	3.5
– Net Position:	259,260	-283,489	24,229
– Gross Longs:	368,453	595,032	79,895
– Gross Shorts:	109,193	878,521	55,666
– Long to Short Ratio:	3.4 to 1	0.7 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	49.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-13.2	17.9	-20.4

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week reached a net position of -41,482 contracts in the data reported through Tuesday. This was a weekly decline of -180 contracts from the previous week which had a total of -41,302 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 41.6 percent. The commercials are Bullish with a score of 60.7 percent and the small traders (not shown in chart) are Bearish with a score of 21.7 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.9	53.2	3.9
– Percent of Open Interest Shorts:	38.3	30.4	3.4
– Net Position:	-41,482	40,557	925
– Gross Longs:	26,547	94,590	7,001
– Gross Shorts:	68,029	54,033	6,076
– Long to Short Ratio:	0.4 to 1	1.8 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.6	60.7	21.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.6	9.9	-11.7

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week reached a net position of -118,290 contracts in the data reported through Tuesday. This was a weekly advance of 2,033 contracts from the previous week which had a total of -120,323 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 43.1 percent. The commercials are Bullish with a score of 57.0 percent and the small traders (not shown in chart) are Bullish with a score of 63.6 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.8	40.1	6.7
– Percent of Open Interest Shorts:	30.9	31.6	3.1
– Net Position:	-118,290	83,028	35,262
– Gross Longs:	183,441	391,771	65,474
– Gross Shorts:	301,731	308,743	30,212
– Long to Short Ratio:	0.6 to 1	1.3 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	43.1	57.0	63.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.6	2.8	-32.8

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week reached a net position of 45,404 contracts in the data reported through Tuesday. This was a weekly lift of 5,588 contracts from the previous week which had a total of 39,816 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 17.4 percent. The commercials are Bullish-Extreme with a score of 83.1 percent and the small traders (not shown in chart) are Bearish with a score of 45.5 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.1	48.8	7.7
– Percent of Open Interest Shorts:	11.4	68.5	5.8
– Net Position:	45,404	-50,319	4,915
– Gross Longs:	74,431	124,784	19,651
– Gross Shorts:	29,027	175,103	14,736
– Long to Short Ratio:	2.6 to 1	0.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	17.4	83.1	45.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.0	-6.4	-48.6

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week reached a net position of 18,684 contracts in the data reported through Tuesday. This was a weekly rise of 9,441 contracts from the previous week which had a total of 9,243 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 69.9 percent. The commercials are Bearish with a score of 35.6 percent and the small traders (not shown in chart) are Bearish with a score of 49.8 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.0	52.0	15.4
– Percent of Open Interest Shorts:	9.1	64.5	9.8
– Net Position:	18,684	-33,531	14,847
– Gross Longs:	43,158	139,948	41,336
– Gross Shorts:	24,474	173,479	26,489
– Long to Short Ratio:	1.8 to 1	0.8 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	69.9	35.6	49.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	15.0	-5.2	-18.6

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week reached a net position of -15,663 contracts in the data reported through Tuesday. This was a weekly decline of -1,535 contracts from the previous week which had a total of -14,128 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 47.6 percent. The commercials are Bullish with a score of 52.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.8 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.7	76.6	0.5
– Percent of Open Interest Shorts:	43.2	54.5	0.2
– Net Position:	-15,663	15,400	263
– Gross Longs:	14,435	53,388	374
– Gross Shorts:	30,098	37,988	111
– Long to Short Ratio:	0.5 to 1	1.4 to 1	3.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	47.6	52.5	19.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.1	29.4	-11.4

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News investing

23 Jul

COT Week 29 Charts: Energy Speculator bets go higher led by Natural Gas & Gasoline

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 19th 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 mostly higher this week as four out of the six energy markets we cover had higher positioning this week while the other two markets had lower contracts.

Leading the gains for energy markets was Natural Gas (11,280 contracts) with Gasoline (7,074 contracts), WTI Crude Oil (2,763 contracts) and Heating Oil (2,515 contracts) also showing positive weeks.

The energy markets leading the declines in speculator bets this week was the Bloomberg Commodity Index (-3,413 contracts) with Brent Crude Oil (-2,914 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jul-19-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,577,616	0	271,091	1	-293,689	100	22,598	47
Gold	524,786	21	94,955	0	-112,262	100	17,307	0
Silver	145,247	12	1,360	0	-8,213	100	6,853	2
Copper	174,592	8	-23,836	25	23,745	76	91	26
Palladium	6,915	3	-3,751	2	4,302	99	-551	12
Platinum	75,069	47	-4,282	2	-273	98	4,555	26
Natural Gas	953,325	0	-120,323	42	86,699	58	33,624	60
Brent	177,889	22	-41,302	42	40,843	61	459	15
Heating Oil	267,576	22	9,243	56	-23,800	46	14,557	49
Soybeans	602,987	0	102,593	45	-74,427	61	-28,166	23
Corn	1,308,458	0	209,940	57	-165,611	48	-44,329	18
Coffee	196,041	3	27,979	63	-28,026	44	47	0
Sugar	703,614	0	127,162	63	-141,842	41	14,680	26
Wheat	292,700	2	6,522	28	3,173	64	-9,695	60

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) show that the Heating Oil (56.0 percent) and the Bloomberg Commodity Index (53.4 percent) lead the energy markets with both above the 50 percent level of the past three year ranges. On the downside, WTI Crude Oil (0.9 percent) comes in at the lowest strength level currently and is followed by Gasoline (11.8 percent) with both in bearish extreme levels (below 20 percent).

Strength Statistics:
WTI Crude Oil (0.9 percent) vs WTI Crude Oil previous week (0.0 percent)
Brent Crude Oil (41.9 percent) vs Brent Crude Oil previous week (46.8 percent)
Natural Gas (42.5 percent) vs Natural Gas previous week (39.1 percent)
Gasoline (11.8 percent) vs Gasoline previous week (4.7 percent)
Heating Oil (56.0 percent) vs Heating Oil previous week (52.3 percent)
Bloomberg Commodity Index (53.4 percent) vs Bloomberg Commodity Index previous week (66.5 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that the Gasoline (9.4 percent) leads the past six weeks trends for energy this week. Heating Oil (6.4 percent) is the only positive mover in the latest trends data. The Bloomberg Commodity Index (-22.0 percent) leads the downside trend scores currently while the next market with lower trend scores were WTI Crude Oil (-17.8 percent) followed by Brent Crude Oil (-8.7 percent).

Strength Trend Statistics:
WTI Crude Oil (-17.8 percent) vs WTI Crude Oil previous week (-20.1 percent)
Brent Crude Oil (-8.7 percent) vs Brent Crude Oil previous week (4.2 percent)
Natural Gas (-1.8 percent) vs Natural Gas previous week (-6.4 percent)
Gasoline (9.4 percent) vs Gasoline previous week (-1.0 percent)
Heating Oil (6.4 percent) vs Heating Oil previous week (9.7 percent)
Bloomberg Commodity Index (-22.0 percent) vs Bloomberg Commodity Index previous week (-0.6 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week totaled a net position of 271,091 contracts in the data reported through Tuesday. This was a weekly advance of 2,763 contracts from the previous week which had a total of 268,328 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 0.9 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 46.8 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.7	36.8	4.7
– Percent of Open Interest Shorts:	6.6	55.4	3.2
– Net Position:	271,091	-293,689	22,598
– Gross Longs:	374,677	580,330	73,482
– Gross Shorts:	103,586	874,019	50,884
– Long to Short Ratio:	3.6 to 1	0.7 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.9	100.0	46.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-17.8	23.9	-25.6

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week totaled a net position of -41,302 contracts in the data reported through Tuesday. This was a weekly reduction of -2,914 contracts from the previous week which had a total of -38,388 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 41.9 percent. The commercials are Bullish with a score of 61.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.4 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.6	52.5	3.9
– Percent of Open Interest Shorts:	38.8	29.6	3.6
– Net Position:	-41,302	40,843	459
– Gross Longs:	27,724	93,411	6,899
– Gross Shorts:	69,026	52,568	6,440
– Long to Short Ratio:	0.4 to 1	1.8 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.9	61.2	15.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.7	11.0	-19.4

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week totaled a net position of -120,323 contracts in the data reported through Tuesday. This was a weekly lift of 11,280 contracts from the previous week which had a total of -131,603 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 42.5 percent. The commercials are Bullish with a score of 58.2 percent and the small traders (not shown in chart) are Bullish with a score of 59.8 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	19.3	42.0	6.6
– Percent of Open Interest Shorts:	31.9	32.9	3.1
– Net Position:	-120,323	86,699	33,624
– Gross Longs:	183,610	400,468	63,072
– Gross Shorts:	303,933	313,769	29,448
– Long to Short Ratio:	0.6 to 1	1.3 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.5	58.2	59.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.8	6.4	-33.7

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week totaled a net position of 39,816 contracts in the data reported through Tuesday. This was a weekly advance of 7,074 contracts from the previous week which had a total of 32,742 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 11.8 percent. The commercials are Bullish-Extreme with a score of 87.7 percent and the small traders (not shown in chart) are Bullish with a score of 50.6 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.9	51.7	7.3
– Percent of Open Interest Shorts:	12.2	68.6	5.2
– Net Position:	39,816	-45,501	5,685
– Gross Longs:	72,688	139,646	19,650
– Gross Shorts:	32,872	185,147	13,965
– Long to Short Ratio:	2.2 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	11.8	87.7	50.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	9.4	-3.5	-37.9

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week totaled a net position of 9,243 contracts in the data reported through Tuesday. This was a weekly increase of 2,515 contracts from the previous week which had a total of 6,728 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 56.0 percent. The commercials are Bearish with a score of 45.9 percent and the small traders (not shown in chart) are Bearish with a score of 48.8 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.1	54.1	15.7
– Percent of Open Interest Shorts:	10.6	62.9	10.3
– Net Position:	9,243	-23,800	14,557
– Gross Longs:	37,695	144,635	42,056
– Gross Shorts:	28,452	168,435	27,499
– Long to Short Ratio:	1.3 to 1	0.9 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.0	45.9	48.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.4	0.7	-17.3

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week totaled a net position of -14,128 contracts in the data reported through Tuesday. This was a weekly reduction of -3,413 contracts from the previous week which had a total of -10,715 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 53.4 percent. The commercials are Bearish with a score of 46.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.2 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	19.1	76.9	0.5
– Percent of Open Interest Shorts:	40.0	56.3	0.2
– Net Position:	-14,128	13,905	223
– Gross Longs:	12,868	51,893	364
– Gross Shorts:	26,996	37,988	141
– Long to Short Ratio:	0.5 to 1	1.4 to 1	2.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.4	46.8	18.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-22.0	23.2	-11.8

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

16 Jul

COT Week 28 Charts: Energy Speculator bets mixed led by Gasoline & Heating Oil

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 12th 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 mixed this week as three out of the six energy markets we cover had higher positioning while the other three markets saw decreasing net positions for the week.

Leading the gains for energy markets was Gasoline (4,721 contracts) with Heating Oil (242 contracts) and Brent Crude Oil (126 contracts) also showing very small positive weeks. Meanwhile, leading the declines in speculator bets this week were WTI Crude Oil (-12,195 contracts) and the Bloomberg Commodity Index (-3,229 contracts) with Natural Gas (-1,084 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jul-12-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,612,803	0	268,328	0	-294,526	100	26,198	52
Gold	542,493	26	118,121	0	-137,788	100	19,667	0
Silver	142,259	9	3,204	0	-9,612	100	6,408	0
Copper	172,037	6	-26,295	23	27,061	78	-766	21
Palladium	6,474	1	-2,802	7	3,252	93	-450	18
Platinum	75,615	48	-5,911	0	1,235	100	4,676	27
Natural Gas	969,204	0	-131,603	39	94,195	61	37,408	69
Brent	171,950	17	-38,388	47	36,619	54	1,769	33
Heating Oil	266,330	22	6,728	52	-22,853	47	16,125	54
Soybeans	611,751	1	115,119	49	-87,284	57	-27,835	24
Corn	1,333,199	0	247,156	62	-196,533	44	-50,623	14
Coffee	195,810	2	34,308	68	-35,166	37	858	0
Sugar	701,144	0	105,869	58	-115,779	46	9,910	20
Wheat	288,182	0	4,639	25	5,041	67	-9,680	60

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) show that the Bloomberg Commodity Index (66.5 percent) and Heating Oil (52.3 percent) lead the energy markets this week. The Bloomberg Commodity Index has been the strongest strength score in the past few weeks but came down from a 78.8 percent score last week showing a weakening strength compared to the 3-year range. On the downside, WTI Crude Oil (0.0 percent) and Gasoline (4.7 percent) come in as the lowest strength scores currently and are both in bearish extreme levels (near the bottom of their 3-year ranges).

Strength Statistics:
WTI Crude Oil (0.0 percent) vs WTI Crude Oil previous week (3.8 percent)
Brent Crude Oil (46.8 percent) vs Brent Crude Oil previous week (46.5 percent)
Natural Gas (39.1 percent) vs Natural Gas previous week (39.4 percent)
Gasoline (4.7 percent) vs Gasoline previous week (0.0 percent)
Heating Oil (52.3 percent) vs Heating Oil previous week (52.0 percent)
Bloomberg Commodity Index (66.5 percent) vs Bloomberg Commodity Index previous week (78.8 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Heating Oil (9.7 percent) leads the past six weeks trends for energy this week. Brent Crude Oil (4.2 percent) is the only positive mover in the latest trends data. WTI Crude Oil (-20.1 percent) leads the downside trend scores currently while the next market with lower trend scores was Natural Gas (-6.4 percent) followed by Gasoline (-1.0 percent).

Strength Trend Statistics:
WTI Crude Oil (-20.1 percent) vs WTI Crude Oil previous week (-16.9 percent)
Brent Crude Oil (4.2 percent) vs Brent Crude Oil previous week (1.3 percent)
Natural Gas (-6.4 percent) vs Natural Gas previous week (-5.7 percent)
Gasoline (-1.0 percent) vs Gasoline previous week (-4.4 percent)
Heating Oil (9.7 percent) vs Heating Oil previous week (18.7 percent)
Bloomberg Commodity Index (-0.6 percent) vs Bloomberg Commodity Index previous week (7.8 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week resulted in a net position of 268,328 contracts in the data reported through Tuesday. This was a weekly fall of -12,195 contracts from the previous week which had a total of 280,523 net contracts.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.3	36.6	5.1
– Percent of Open Interest Shorts:	6.6	54.9	3.5
– Net Position:	268,328	-294,526	26,198
– Gross Longs:	375,155	590,438	82,523
– Gross Shorts:	106,827	884,964	56,325
– Long to Short Ratio:	3.5 to 1	0.7 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	51.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-20.1	25.2	-20.6

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week resulted in a net position of -38,388 contracts in the data reported through Tuesday. This was a weekly rise of 126 contracts from the previous week which had a total of -38,514 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 46.8 percent. The commercials are Bullish with a score of 54.2 percent and the small traders (not shown in chart) are Bearish with a score of 33.1 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.6	52.2	4.1
– Percent of Open Interest Shorts:	38.0	30.9	3.1
– Net Position:	-38,388	36,619	1,769
– Gross Longs:	26,868	89,831	7,060
– Gross Shorts:	65,256	53,212	5,291
– Long to Short Ratio:	0.4 to 1	1.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	46.8	54.2	33.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.2	-3.9	-2.2

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week resulted in a net position of -131,603 contracts in the data reported through Tuesday. This was a weekly lowering of -1,084 contracts from the previous week which had a total of -130,519 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 39.1 percent. The commercials are Bullish with a score of 60.6 percent and the small traders (not shown in chart) are Bullish with a score of 68.7 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.9	41.2	6.8
– Percent of Open Interest Shorts:	32.5	31.4	2.9
– Net Position:	-131,603	94,195	37,408
– Gross Longs:	183,194	398,833	65,940
– Gross Shorts:	314,797	304,638	28,532
– 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):	39.1	60.6	68.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.4	10.9	-31.3

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week resulted in a net position of 32,742 contracts in the data reported through Tuesday. This was a weekly increase of 4,721 contracts from the previous week which had a total of 28,021 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 4.7 percent. The commercials are Bullish-Extreme with a score of 94.0 percent and the small traders (not shown in chart) are Bullish with a score of 54.1 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.1	55.1	7.3
– Percent of Open Interest Shorts:	13.4	69.2	5.1
– Net Position:	32,742	-38,954	6,212
– Gross Longs:	69,876	153,217	20,335
– Gross Shorts:	37,134	192,171	14,123
– Long to Short Ratio:	1.9 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.7	94.0	54.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.0	6.8	-40.8

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week resulted in a net position of 6,728 contracts in the data reported through Tuesday. This was a weekly increase of 242 contracts from the previous week which had a total of 6,486 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 52.3 percent. The commercials are Bearish with a score of 46.9 percent and the small traders (not shown in chart) are Bullish with a score of 54.2 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	13.8	52.7	16.1
– Percent of Open Interest Shorts:	11.3	61.3	10.1
– Net Position:	6,728	-22,853	16,125
– Gross Longs:	36,724	140,444	43,002
– Gross Shorts:	29,996	163,297	26,877
– 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):	52.3	46.9	54.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	9.7	-5.2	-6.0

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week resulted in a net position of -10,715 contracts in the data reported through Tuesday. This was a weekly lowering of -3,229 contracts from the previous week which had a total of -7,486 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 66.5 percent. The commercials are Bearish with a score of 33.6 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:	23.4	72.9	0.5
– Percent of Open Interest Shorts:	39.5	57.1	0.2
– Net Position:	-10,715	10,480	235
– Gross Longs:	15,577	48,468	360
– Gross Shorts:	26,292	37,988	125
– Long to Short Ratio:	0.6 to 1	1.3 to 1	2.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	66.5	33.6	18.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.6	1.7	-12.0

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

09 Jul

COT Week 27 Charts: Energy Speculator bets drop led by WTI Crude Oil & Gasoline

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.

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).

Data Snapshot of Commodity Market Traders | Columns Legend

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.

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.

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

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