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Speculators raised bullish bets in oil for the first time in 6 weeks

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC), oil speculators pushed up their overall bullish bets in WTI oil futures last week for the first time in six weeks.

    The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, witnessed a weekly change of +12,637 contracts to total a net position +210,511 contracts in the data reported for December 15th. Long positions in oil futures fell by 7,860 contracts and the short position dropped by -20,497 contracts.

    The commercials, hedgers or traders engaged in buying and selling for business purposes, raised their existing bearish positions to a net total position of -208,139 contracts through December 15th.
    For more information, read our latest forex news.
     

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