CFTC: Managed Money Net Longs Steady in Week to April 28


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Money managers' bullish bets in NYMEX West Texas 
Intermediate (WTI) crude were little changed during the week ended April 28 as 
prices remained supported at above $90 bbl amid a debate on the next steps in 
the Iran war, Commodity Futures Trading Commission (CFTC) data showed Friday 
(5/1).

   Noncommercial long positions in WTI held by money managers rose by 10,663 
contracts to 390,683 during the reference week, according to the weekly 
Commitment of Traders report of the CFTC.

   Noncommercial short positions increased by 11,054 contracts to 198,772 
during the same week, the CFTC said.

   This caused the net noncommercial long position in WTI to ease by 391 to 
191,911. Open interest, meanwhile, gained by 32,291 contracts to 2,017,038.

   Those moves in WTI came as its front-month contract moved up from a low of 
$87.90 on April 21 to a peak of $101.85 on April 28.   

   In NYMEX RBOB gasoline futures, noncommercial long positions gained by 316 
contracts to 79,862, while short positions rose by 1,215 contracts to 23,646. 
This caused the noncommercial net long position to shrink by 899 contracts to 
56,216, while open interest in gasoline fell by 16,805 contracts to 313,234.

   In NYMEX ULSD futures, noncommercial long positions climbed by 709 contracts 
to 37,794, while short positions rose by 2,496 contracts to 34,127. These 
changes caused the noncommercial net long position in ULSD to retreat by 1,787 
contracts to 3,667, while open interest dropped by 6,649 contracts to 240,526.

   In NYMEX natural gas futures, noncommercial long positions fell by 9,564 
contracts to 232,463, while short positions decreased by 11,606 contracts to 
398,736. That caused the net short position in natural gas to ease by 2,042 
contracts to 166,273, as open interest rose by 1,937 contracts to 1,578,600.




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