By CountingPips.com | Weekly Large Trader COT Report: WTI Crude Oil
CFTC COT data shows hedge funds and large speculator’s pushed oil bets higher
WTI Crude Oil Non-Commercial Positions:
Futures market traders and large oil speculators sharply increased their overall bullish bets in WTI oil futures last week and raised their bets for a second straight week, 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 +205,710 contracts in the data reported for January 26th. This was a change of +26,338 contracts from the previous week’s total of +179,372 net contracts for the data reported through January 19th.
For the week, the standing non-commercial long positions in oil futures advanced by 40,936 contracts and overcame the short positions which rose by 14,598 contracts to total the overall weekly net change of +26,338 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) increased their existing bearish positions to a net total position of -209,050 contracts through January 26th. This is a weekly change of -18,003 contracts from the total net amount of -191,047 contracts on January 19th.
USO Crude Oil ETF:
Over the same weekly reporting time-frame, from Tuesday January 19th to Tuesday January 26th, the USO Oil ETF, which tracks the WTI crude oil price, edged higher from $8.49 to $8.97, according to ETF data for the USO United States Oil Fund LP ETF.
Tracking of Large Speculator and Commercial Positions, as well as Open Interest in latest Futures data.
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 |
| 20151222 | 1646306 | -32221 | -196681 | 11458 | 192912 | -17599 |
| 20151229 | 1648904 | 2598 | -192616 | 4065 | 196351 | 3439 |
| 20160105 | 1703201 | 54297 | -188565 | 4051 | 184177 | -12174 |
| 20160112 | 1756232 | 53031 | -178240 | 10325 | 163504 | -20673 |
| 20160119 | 1686382 | -69850 | -191047 | -12807 | 179372 | 15868 |
| 20160126 | 1761883 | 75501 | -209050 | -18003 | 205710 | 26338 |
*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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