FXStreet (Mumbai) – The latest data released by the Commodity Futures Trading Commission showed oil speculators decreased their overall bullish bets in WTI oil futures last week for the third straight week.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, witnessed a change of -10,704 contracts to total a net position of +253,683 contracts in the data reported for July 21st. The weekly bullish positions fell by 3704 contracts and the bearish positions rose by 7000 contracts.
The commercials, hedgers or traders engaged in buying and selling for business purposes, witnessed an increase in bearish positions to total a net position of -257,138 contracts through July 21st.
(Market News Provided by FXstreet)