CFTC: Speculators Expand NYMEXT WTI Futures Long Position


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Speculators reduced bearish in NYMEX crude oil during 
the week to February 3, while moving divergently with gasoline, distillate and 
natural gas futures, Commodity Futures Trading Commission (CFTC) data showed 
Friday (2/6).

   In NYMEX West Texas Intermediate (WTI) crude oil futures, noncommercial long 
positions rose by 20,280 contracts to 315,529, the CFTC said in its weekly 
Commitment of Traders report, while short positions in fell by 7,301 contracts 
to 190,964.

   The difference between the two widened the noncommercial net long position 
by 27,583 contracts to 124,565, indicating an extension in short covering.

   Open interest in WTI rose by 55,665 contracts to 2091314, suggesting the 
increase in net length was driven by new long accumulation as well as short 
covering, CFTC data shows.

   In NYMEX RBOB gasoline futures, noncommercial long positions fell by 2,279 
contracts to 116,257, while short positions rose by 503 contracts to 39,826. As 
a result, the noncommercial net long position narrowed by 2,782 contracts to 
76,431 as new short positioning outpaced gains on the long side.

   Open interest in gasoline increased by 4,820 contracts to 469,165, pointing 
to renewed speculative participation.

   In NYMEX ULSD futures, noncommercial long positions slipped by 5,089 
contracts to 62759, while short positions declined by 6,533 contracts to 
37,480. The changes lifted the noncommercial net long position by 1,444 
contracts to 25,279, supported by short covering amid expanding participation.

   Open interest in ULSD climbed by 27,423 contracts to 395,075 during the 
reporting week, indicating improving engagement alongside a more constructive 
speculative tone.

   In NYMEX natural gas futures, noncommercial long positions dropped by 1,013 
contracts to 215,099, while short positions rose by 7,691 contracts to 387,409. 
The moves narrowed the noncommercial net short position by 8,704 contracts to 
172,310. Open interest rose by 30,040,195 contracts to 1,655,983, reflecting 
continued position liquidation amid volatile price action and lingering bearish 
sentiment.

   Overall, the CFTC data show speculative positioning turning less bearish on 
crude oil, while resorting to mixed positioning in gasoline, distillates and 
natural gas positioning amid adjustments in risk exposure.

    




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