CFTC: WTI Net Longs Dip as Shorts Jump


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Money managers slightly reduced their net bullish 
positioning in NYMEX West Texas Intermediate (WTI) crude during the week ended 
September 15, snapping four consecutive weeks of increases as a sharp build in 
short positions outpaced growth in longs.

   Noncommercial long positions in WTI held by money managers increased by 
21,084 contracts to 371,202 during the reference week, according to weekly 
Commitment of Traders data released Friday (9/18) by the Commodity Futures 
Trading Commission (CFTC).

   Noncommercial short positions jumped by 21,758 contracts to 235,297 during 
the same week, the CFTC data showed.

   This caused the net noncommercial long position in WTI to edge down by 674 
contracts to 135,905. Open interest, meanwhile, rose by 15,853 contracts to 
1,955,764.

   The positioning changes came during a period of elevated crude prices, with 
WTI trading around the $100 bbl level during the reference week. The 
front-month contract has since retreated, trading near $97.68 bbl Monday (9/21).

   Noncommercial spread positions in WTI fell by 8,772 contracts to 605,061 
during the same week.

   Total long positions in WTI futures rose by 18,429 contracts to 1,871,466, 
while total short positions increased by 17,776 contracts to 1,900,419.

    




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