By CountingPips.com | Weekly Large Trader COT Report: WTI Crude Oil
CFTC COT data shows speculator’s dropped oil bets lower last week
WTI Crude Oil Non-Commercial Positions:
Futures market traders and large oil speculators decreased their overall bullish bets in WTI oil futures last week for a second straight week and net bullish positions have fallen to the lowest level since September 1st, 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 +228,555 contracts in the data reported for November 17th. This was a change of -9,767 contracts from the previous week’s total of +238,322 net contracts for the data reported through November 10th.
For the week, the standing non-commercial long positions in oil futures declined by -4,846 contracts and combined with the short positions that rose by 4,921 contracts to total the overall weekly net change of -9,767 contracts.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
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.
Net bullish positions now stand at the lowest level since September 1st when positions equaled +220,342 contracts.
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) trimmed their existing bearish positions to a net total position of -236,821 contracts through November 17th. This is a weekly change of +9,251 contracts from the total net amount of -246,072 contracts on November 10th.
USO Crude Oil ETF:
Over the same weekly reporting time-frame, from Tuesday November 10th to Tuesday November 17th, the USO Oil ETF, which tracks the WTI crude oil price, decreased from $14.09 to $13.01, 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 |
| 20151013 | 1645951 | -29725 | -274867 | -21654 | 264992 | 6731 |
| 20151020 | 1613562 | -32389 | -263366 | 11501 | 251151 | -13841 |
| 20151027 | 1676033 | 62471 | -241583 | 21783 | 236575 | -14576 |
| 20151103 | 1676897 | 864 | -244372 | -2789 | 246191 | 9616 |
| 20151110 | 1671590 | -5307 | -246072 | -1700 | 238322 | -7869 |
| 20151117 | 1662829 | -8761 | -236821 | 9251 | 228555 | -9767 |
*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
Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts. All information and opinions on this website are for general informational purposes only and do not constitute investment advice.
