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20 Apr 2015
Speculators increased net bullish positions on WTI Crude
FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators increased their overall bullish bets sharply in WTI crude oil futures last week for a third consecutive week and to the highest level since February.
The non-commercial contracts of crude oil futures witnessed a weekly change of +30,117 contracts to total a net position of +282,160 contracts during the reporting time period - April 7th to April 14th. The long positions in oil futures rose by 7,056 contracts, while the short positions dropped by -23,061 contracts.
Meanwhile, during the reporting time period, the WTI crude oil price fell marginally from USD 53.98/barrel to 53.29/barrel. Brent prices moved slightly higher to USD 59.81/barrel from USD 59.10/barrel.
The non-commercial contracts of crude oil futures witnessed a weekly change of +30,117 contracts to total a net position of +282,160 contracts during the reporting time period - April 7th to April 14th. The long positions in oil futures rose by 7,056 contracts, while the short positions dropped by -23,061 contracts.
Meanwhile, during the reporting time period, the WTI crude oil price fell marginally from USD 53.98/barrel to 53.29/barrel. Brent prices moved slightly higher to USD 59.81/barrel from USD 59.10/barrel.