By CountingPips.com | Weekly Large Trader COT Report: WTI Crude Oil
CFTC COT data released on Monday due to a holiday schedule
WTI Crude Oil Non-Commercial Positions:
Futures market traders and large oil speculators reduced their overall bullish bets in WTI oil futures last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to a holiday schedule.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, totaled a net position of +238,322 contracts in the data reported for November 10th. This was a change of -7,869 contracts from the previous week’s total of +246,191 net contracts for the data reported through November 3rd.
For the week, the standing non-commercial long positions in oil futures advanced by 5,561 contracts but were overcome by a large gain in the short positions by 13,430 contracts to total the overall weekly net change of -7,869 contracts.
Free Reports:
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) raised their existing bearish positions to a net total position of -246,072 contracts through November 10th. This is a weekly change of -1,700 contracts from the total net amount of -244,372 contracts on November 3rd.
USO Crude Oil ETF:
Over the same weekly reporting time-frame, from Tuesday November 3rd to Tuesday November 10th, the USO Oil ETF, which tracks the WTI crude oil price, fell from $15.28 to $14.09, 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 |
| 20151006 | 1675676 | 57774 | -253213 | -3464 | 258261 | 6533 |
| 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 |
*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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