WTI: Oil speculators trimmed net bullish bets - CFTC

According to the latest the US Commodity Futures Trading Commission (CFTC) released on Friday, the hedge funds and other money managers reduced their net long WTI futures and options positions in the week to Aug. 8.

The non-commercial futures contracts of WTI crude oil futures dropped by 17,156 contracts to 463,473 contracts versus previous week’s 480,629 net contracts. Meanwhile, the commercial traders position, showed a weekly advance of 3,243 contracts from the total net of -476,742 contracts to a net position of -473,499 contracts on the week.