Commodities Buzz: Speculative Demand Remains Strong In Crude Oil

Large energy speculators increased their bullish net positions in the Crude Oil WTI Futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 707,080 contracts in the data reported through Tuesday April 10th. This was a weekly gain of 7,535 contracts. The current net position is still in the vicinity of the all-time high record of +739,097 contracts that was registered on February 6th. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -727,676 contracts on the week. This was a weekly fall of -3,112 contracts.