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      Energy Preview: Crude long positions down after recent gains

      MoM Team / Mumbai, Jun 20, 2017 10:21 AM IST

        Energy Preview: Crude long positions down after recent gains

        Large speculators sharply cut their bullish net positions in the WTI Crude Oil futures markets this week following gains in the previous four weeks, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

        The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 358,999 contracts in the data reported through Tuesday June 13th. This was a weekly reduction of -23,470 contracts from the previous week which had a total of 382,469 net contracts.

        The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -376,005 contracts on the week. This was a weekly boost of 14,814 contracts.


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      Source: Capital Market



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