Oil: Net-long position rises, but mostly due to decline in short - CFTC

Dhwani Mehta FXStreet

According to a weekly US Commodity Futures Trading Commission report released Friday, money managers’ net-long position on WTI rose 12% to 149,951 futures and options as of July 3, mainly because short-sellers retreated, Bloomberg reports.

While longs rose by less than 1% to 316,447 contracts, shorts fell 7.8% to 166,496. In the previous three weeks shorts almost doubled, reaching their highest point in almost a year.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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