By CountingPips.com | Weekly Large Trader COT Report: WTI Crude Oil
CFTC COT data shows speculator’s edged oil bets higher last week
WTI Crude Oil Non-Commercial Positions:
Futures market traders and large oil speculators slightly raised their overall bullish bets in WTI oil futures last week and have now increased net bullish positions six out of the last seven weeks, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, totaled a net position of +258,261 contracts in the data reported for October 6th. This was a change of +6,533 contracts from the previous week’s total of +251,728 net contracts for the data reported through September 29th.
For the week, the standing non-commercial long positions in oil futures rose by 9,615 contracts and offset a rise in the short positions of 3,082 contracts to total the overall weekly net change of +6,533 contracts.
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WTI Crude Oil Commercial Positions:
In the commercial positions for oil on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) slightly increased their existing bearish positions to a net total position of -253,213 contracts through October 6th. This is a weekly change of -3,464 contracts from the total net amount of -249,749 contracts on September 29th.
USO Crude Oil ETF:
Over the same weekly reporting time-frame, from Tuesday September 29th to Tuesday October 6th, the USO Oil ETF, which tracks the WTI crude oil price, advanced from $14.61 to $15.74, according to ETF data for the USO United States Oil Fund LP ETF.
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20150901 | 1688806 | 11655 | -219070 | -2221 | 220342 | 4779 |
| 20150908 | 1704251 | 15445 | -226406 | -7336 | 231430 | 11088 |
| 20150915 | 1702949 | -1302 | -238958 | -12552 | 239386 | 7956 |
| 20150922 | 1606217 | -96732 | -249771 | -10813 | 259429 | 20043 |
| 20150929 | 1617902 | 11685 | -249749 | 22 | 251728 | -7701 |
| 20151006 | 1675676 | 57774 | -253213 | -3464 | 258261 | 6533 |
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com
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