According to the CFTC Commitments of Traders report for the week ended August 11, NET LENGTH for crude oil futures plunged -15 331 contracts to 520 935 for the week. Speculative long position declined -10 925 contracts, while shorts added +4 406. For refined oil products, NET LENGTH for gasoline increased +5 022 contracts to 62 962, while NET LENGTH for heating oil futures dropped -1 996 contracts to 13 475. Natural Gas drifted to NET LENGTH of 13 515 contracts for the week.
Gold futures’ NET LENGTH dived -14 693 contracts to 224 053. Speculative long positions declined -14 980 contracts while shorts also dropped -287. The yellow metal staged a sharp correction after rallying to record high. Silver futures’ NET LENGTH declined -6 321 contracts to 23 568. For PGMs, NET LENGTH of Nymex platinum futures gained +2 766 contracts to 22 272 while that for palladium slipped -274 contracts to 2 698.
