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CFTC: Funds Add to Length in Crude, Oil Product Futures
4/23 7:04 AM
CFTC: Funds Add to Length in Crude, Oil Product Futures BURLINGTON Vt. (DTN) -- Money managers turned buyers of WTI crude oil, RBOB gasoline and ultra-low sulfur diesel fuel futures, adding a cumulative 36,469 contracts of new purchases during the week-ended April 17, statistics from the Commodity Futures Trading Commission showed in its most recent weekly Commitments of Traders report. The total noncommercial trading category increased upside market risk to an aggregate 826,724 long position, while the funds were in control of a net 591,416 contract long market position. Money managers were buyers of 14,755 WTI futures that lifted net market length to 431,557 contracts at the April 17 formal session close. Non-reportable futures players trimmed upside market exposure by 4,734 crude futures that reset net market length at 15,862 contracts. Open interest in NYMEX crude oil increased 116,545 to 2,596,578 contracts. COT data showed the funds in possession of 61,866 ULSD futures following fresh purchases of 12,424 contracts, and individual diesel fuel futures traders were sellers of 5,308 ULSD futures moving to an 18,317 contract long market bias. ULSD open interest increased 18,243 to 461,243 contracts. Money managers increased upside market risk by 9,290 RBOB futures to 97,933 contracts, while non-reportable speculators trimmed net gasoline blendstock length by a fraction to 9,213 contracts. Open interest in NYMEX RBOB futures increased 26,988 to 444,457 contracts. [Editor's Note] The noncommercial category consists of speculators that include managed funds, pension funds, and commodity pool operators. DTN focuses primarily on aggressive and market leading trading patterns of managed funds from that group. Non-reportable traders are individual futures speculators not required to report net positions of less than 200 contracts to the CFTC. Commercial traders are comprised of oil refiners, oil companies and traders, end-users and banks who use oil futures primarily as a hedging tool. G.Bud deGorgue, 1.802.524.1784, bud.degorgue@dtn.com, www.dtn.com. (c) 2018 DTN. All rights reserved.