FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC) showed speculators increased their overall bullish bets in WTI oil futures last week for a fourth consecutive week and to the highest level since early August.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, witnessed a change of +7,956 contracts to total a net position of +239,386 contracts in the data reported for September 15th. Long positions in oil futures fell by 4,330 contracts, but short positions declined by 12,286 contracts.
The commercials, hedgers or traders engaged in buying and selling for business purposes, increased their existing bearish positions to a net total position of -238,958 contracts through September 15th.
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