WTI: Bullish bets raised for the 3rd straight week - CFTC

Money managers boosted wagers on higher West Texas Intermediate (WTI) crude for a third week as of April 18, US Commodity Futures Trading Commission (CFTC) COT report showed last Friday.

Money managers’ WTI net-long position, or the difference between bets on a price increase and wagers on a drop, climbed 4.6% in the week ended April 18, according to the CFTC.

The net-long position in WTI rose by 14,135 futures and options to 323,364. Longs advanced 1.7 percent, while shorts dropped 11%, Bloomberg reports.