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4 May 2015
Speculators reduced overall bullish bets on oil futures
FXStreet (Mumbai) - As per the data released by the US Commodity Futures Trading Commission (CFTC) showed, speculators cut back on their overall bullish bets last week after boosting bullish positions in the four previous weeks.
The non-commercial contracts of crude oil futures witnessed a weekly change of -8,248 contracts to total a net position of +314,844 contracts. The long positions in oil futures increased by 2,351 contracts, while the short positions rose by 10,599 contracts.
Meanwhile, during the reporting time period - April 21st to April 28th - The WTI crude oil price edged higher from USD 56.61/barrel to USD 57.06/barrel.
The non-commercial contracts of crude oil futures witnessed a weekly change of -8,248 contracts to total a net position of +314,844 contracts. The long positions in oil futures increased by 2,351 contracts, while the short positions rose by 10,599 contracts.
Meanwhile, during the reporting time period - April 21st to April 28th - The WTI crude oil price edged higher from USD 56.61/barrel to USD 57.06/barrel.