CFTC: Speculators, Money Managers again Reduce WTI Length


   
   CRANBURY, N.J. (DTN) -- For a tenth consecutive week, speculators and money 
managers reduced long holdings in New York Mercantile Exchange West Texas 
Intermediate futures during the week-ended Dec. 5, mostly cutting length by 
shorting the market, the Commodity Futures Trading Commission's Commitment of 
Traders report released Friday afternoon shows.

   Speculators cut WTI futures length by 14,181 contracts to 168,990 during the 
week profiled by shorting, 81%, and through long liquidation sales. Money 
managers reduced their WTI futures long position by 15,539 contracts to 62,777 
by shorting the market, 83%, and through long liquidation. Both speculators and 
money managers are holding their smallest long positions in WTI futures since 
July.

   Open interest in WTI futures jumped by 86,700 contracts or 5.5% to 1,650,437 
during the week-ended Dec. 5, CFTC data shows.

   For RBOB futures, speculators expanded a long position by 2,099 contracts to 
a fresh 10-month high 68,242 primarily through short covering, 97%, joined by 
new buying. Money managers trimmed a long RBOB futures position by 840 
contracts to 65,489 by shorting the market, 86%, and long liquidation sales.

   Open interest in RBOB futures increased by 2,622 contracts to 341,351 during 
the week-ended Dec. 5, according to the CFTC.

   Both speculators and money managers reduced long positions in ULSD futures, 
with speculators cutting length by 4,554 contracts to a 32,795 long position by 
shorting the market. Money managers slashed a ULSD futures long position by 
7,286 contracts to 28,644 on long liquidation, 34%, and by shorting the market, 
66%.

   Open interest in ULSD futures increased by 4,116 contracts or 1.4% to 
307,563 during the week-ended Dec. 5, CFTC data shows.

    

    

   Brian L. Milne, 1.732.768.0260, brian.milne@dtn.com, www.dtn.com.

    




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