Speculators Lift WTI, ULSD Long Positions on New Buying


   
   CRANBURY, N.J. (DTN) -- Speculators expanded long positions in West Texas 
Intermediate and ULSD futures on the New York Mercantile Exchange on new 
buying, while cutting length in the RBOB contract by shorting the market during 
the week-ended Sept. 19, the Commodity Futures Trading Commission's Commitment 
of Traders report released Friday afternoon shows.

   Speculators boosted their WTI long position by 1,555 contracts to a fresh 
15-month high of 328,426 on new buying, while money managers added 17,590 
positions on the long side for a 281,620 better than 22-month high almost 
exclusively on new buying during the week profiled.

   Open interest in WTI futures fell by 98,706 or 5.5% from a two-month high to 
1,692,990 during the week-ended Sept. 19, according to CFTC data.

   For ULSD futures, speculators widened a long position to a nearly five-year 
high of 42,901, adding 5,979 contracts to the long side of the ledger on new 
buying, 75%, and short covering. Money managers boosted length by 1,496 
contracts during the week profiled for a 35,442 long position on new buying, 
79%, and short covering.

   Open interest in ULSD futures declined by 4,139 contracts or 1.2% from a 
seven-month high to 330,256 during the week-ended Sept. 19, CFTC data shows.

   The noncommercial trader group cut RBOB futures length by 9,875 contracts to 
49,342 by shorting the market, 78%, and through long liquidation sales. Money 
managers pressed a long position down by 6,198 contracts to a 65,076 2-1/2 
month low by shorting the market, 78%, and through long liquidation.

   Open interest in RBOB futures increased by 15,927 contracts or 4.3% to a 
385,867 seven-month high during the week-ended Sept. 19, CFTC data shows.

    

    

   Brian L. Milne, 1.402.255.8020, brian.milne@dtn.com, www.dtn.com.




(c) Copyright 2023 DTN, LLC. All rights reserved.