9 Mar 2015
Crude net bullish positions drop for second week
FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators trimmed their bullish bets on crude in the last week, taking the overall bullish bets to the lowest level since December.
The total non-commercial contracts of crude oil futures fell by 7548 contracts to 262,289 contracts in the data reported for March 3rd. The bullish bets in oil futures managed to rise by 7,043 contracts, but were offset by the bearish bets that rose by 14,591 contracts.
Meanwhile, during the reporting time period - February 24th to March 3rd – the WTI crude oil price witnessed a slight uptick from USD 49.21/barrel to USD 50.52/barrel.
The total non-commercial contracts of crude oil futures fell by 7548 contracts to 262,289 contracts in the data reported for March 3rd. The bullish bets in oil futures managed to rise by 7,043 contracts, but were offset by the bearish bets that rose by 14,591 contracts.
Meanwhile, during the reporting time period - February 24th to March 3rd – the WTI crude oil price witnessed a slight uptick from USD 49.21/barrel to USD 50.52/barrel.