CFTC: WTI Net Longs Up After Session Highs Above $100


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Money managers' bullish bets on NYMEX West Texas 
Intermediate (WTI) crude grew during the week ended April 14 as the U.S. oil 
benchmark routinely hit session highs above $100 bbl on events related to the 
Iran war, Commodity Futures Trading Commission (CFTC) data showed Friday (4/17).

   Net longs in NYMEX gasoline and distillates held by money managers, 
meanwhile, shrank, indicating less bullish positions in both.

   Net shorts in natural gas also fell, although this signaled a less bearish 
mood for managed money in that space.

   In WTI, noncommercial long positions rose by 8,853 contracts to 390,468, the 
CFTC said in its weekly Commitment of Traders report for the week ended April 
14. Noncommercial short positions rose by 4,465 contracts to 183,927. This 
caused net noncommercial longs in WTI to grow by 4,388 to 206,541.

   Open interest in WTI rose by 56,635 contracts to 2,094,492.

   Those moves came as the front-month contract in NYMEX WTI persistently hit 
session highs above $100 bbl between April 8 and 13, in four trading sessions 
covered by the CFTC's COT report.

   In NYMEX RBOB gasoline futures, noncommercial long positions fell by 4,531 
contracts to 75,722, while short positions rose by 1,296 contracts to 21,957. 
This caused the noncommercial net long position to shrink by 5,827 contracts to 
53,765.

   Open interest in gasoline was up by 16,878 contracts to 337,375.

   In NYMEX ULSD futures, noncommercial long positions rose by 848 contracts to 
35,740, while short positions rose by 2,129 contracts to 28,134. These changes 
caused the noncommercial net long position in ULSD to shrink by 1,281 contracts 
to 7,606.

   Open interest in ULSD rose by 14,486 contracts to 243,365.

   In NYMEX natural gas futures, noncommercial long positions rose by 23,470 
contracts to 236,339 while short positions rose by 26,371 to 423,227. That 
caused the net short position in natural gas to shrink by 2,901 contracts to 
186,888.

   Open interest in natural gas rose by 26,377 contracts to 1,585,240.




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