Bullish bets on Crude rise for the first time in four weeks

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) on Friday, futures traders and large speculators increased their bullish bets on the WTI oil prices last week for the first time in four weeks.

The non-commercial contracts of crude oil futures were reported at 275,480 contracts in the data reported for January 13th. The bullish bets rose by 44,643 contracts, while the bearish bets declined 37,963 contracts. Meanwhile, over the reporting period, Crude prices declined from USD 47.93/barrel to USD 45.89/barrel.