CFTC: WTI Bullish Bets Tumble on Iran Peace Attempts


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Money managers cut their bullish bets in NYMEX West 
Texas Intermediate (WTI) crude for a third consecutive week as the market hit 
7-week lows on continued hopes for an end to the Iran war despite sporadic 
hostilities between the warring parties in the conflict.

   Noncommercial long positions in WTI held by money managers fell by 22,786 
contracts to 360,524 during the week ended June 9, according to weekly 
Commitment of Traders data released on Friday (6/12) by the Commodity Futures 
Trading Commission (CFTC).

   Noncommercial short positions increased by 2,787 contracts to 230,223 during 
the same week, the CFTC data showed.

   This caused the net noncommercial long position in WTI to decline by 25,573 
contracts to 130,301. Open interest, meanwhile, slumped by 2,787 contracts to 
230,223.

   Those moves came as WTI's front-month contract on NYMEX fell to $85.95 bbl 
on June 9, the lowest since April 17, after Israel and Iran agreed to halt 
attacks on each other, reviving diplomatic efforts for an end to the Middle 
East conflict.




(c) Copyright 2026 DTN, LLC. All rights reserved.