COT Week 23 Charts: Energy Speculator Positions Mixed led by Brent Crude & Heating Oil

Invest Macro 12.06.2022 15:16
By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter
Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).
The latest COT data is updated through Tuesday June 7th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
Energy market speculator bets were mixed this week as three out of the six energy markets we cover had higher positioning this week while three markets had lower contracts. Leading the gains for energy markets was Brent Crude Oil (4,774 contracts) and Heating Oil (4,765 contracts) with Bloomberg Commodity Index (2,178 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were WTI Crude Oil (-4,720 contracts) and Natural Gas (-3,974 contracts) with Gasoline (-3,202 contracts) also registering lower bets on the week.
Strength scores (3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that the Bloomberg Commodity Index is the highest above its midpoint for the past 3 years while Brent, Heating Oil and Natural Gas are slightly below the 50 percent level.
Strength score trends (or move index, that show 6-week changes in strength scores) shows that Heating Oil and the Bloomberg Commodity Index bets have been rising the strongest over the past six weeks while Gasoline is moving the opposite way.
Data Snapshot of Commodity Market Traders | Columns Legend
Jun-07-2022
OI
OI-Index
Spec-Net
Spec-Index
Com-Net
COM-Index
Smalls-Net
Smalls-Index
WTI Crude
1,790,618
10
328,256
8
-369,033
93
40,777
72
Gold
494,130
12
175,268
7
-199,886
95
24,618
18
Silver
148,294
15
17,404
5
-27,990
94
10,586
10
Copper
194,187
22
-3,714
40
879
60
2,835
42
Palladium
7,035
3
-3,461
2
3,581
97
-120
37
Platinum
65,295
31
5,933
12
-9,742
92
3,809
15
Natural Gas
1,127,731
10
-114,342
44
66,419
52
47,923
93
Brent
169,802
16
-36,098
51
34,208
50
1,890
35
Heating Oil
261,651
20
4,886
50
-24,428
45
19,542
66
Soybeans
760,444
35
176,644
68
-148,390
39
-28,254
23
Corn
1,557,167
31
391,264
80
-337,137
24
-54,127
12
Coffee
222,583
15
48,767
81
-51,363
23
2,596
16
Sugar
849,814
12
195,403
77
-234,496
24
39,093
56
Wheat
333,705
12
23,881
50
-19,863
31
-4,018
90
WTI Crude Oil Futures:
The WTI Crude Oil Futures large speculator standing this week recorded a net position of 328,256 contracts in the data reported through Tuesday. This was a weekly decrease of -4,720 contracts from the previous week which had a total of 332,976 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 8.2 percent. The commercials are Bullish-Extreme with a score of 92.9 percent and the small traders (not shown in chart) are Bullish with a score of 72.5 percent.
WTI Crude Oil Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
23.7
34.8
5.2
– Percent of Open Interest Shorts:
5.3
55.4
2.9
– Net Position:
328,256
-369,033
40,777
– Gross Longs:
423,882
622,320
92,501
– Gross Shorts:
95,626
991,353
51,724
– Long to Short Ratio:
4.4 to 1
0.6 to 1
1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
8.2
92.9
72.5
– Strength Index Reading (3 Year Range):
Bearish-Extreme
Bullish-Extreme
Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
4.3
-4.2
-2.1
Brent Crude Oil Futures:
The Brent Crude Oil Futures large speculator standing this week recorded a net position of -36,098 contracts in the data reported through Tuesday. This was a weekly increase of 4,774 contracts from the previous week which had a total of -40,872 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 50.6 percent. The commercials are Bullish with a score of 50.2 percent and the small traders (not shown in chart) are Bearish with a score of 34.8 percent.
Brent Crude Oil Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
15.3
51.5
4.4
– Percent of Open Interest Shorts:
36.6
31.4
3.3
– Net Position:
-36,098
34,208
1,890
– Gross Longs:
26,009
87,488
7,434
– Gross Shorts:
62,107
53,280
5,544
– Long to Short Ratio:
0.4 to 1
1.6 to 1
1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
50.6
50.2
34.8
– Strength Index Reading (3 Year Range):
Bullish
Bullish
Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
4.1
-2.3
-14.1
Natural Gas Futures:
The Natural Gas Futures large speculator standing this week recorded a net position of -114,342 contracts in the data reported through Tuesday. This was a weekly decrease of -3,974 contracts from the previous week which had a total of -110,368 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 44.3 percent. The commercials are Bullish with a score of 51.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.5 percent.
Natural Gas Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
20.8
37.2
6.8
– Percent of Open Interest Shorts:
31.0
31.3
2.6
– Net Position:
-114,342
66,419
47,923
– Gross Longs:
235,073
419,847
76,779
– Gross Shorts:
349,415
353,428
28,856
– Long to Short Ratio:
0.7 to 1
1.2 to 1
2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
44.3
51.8
93.5
– Strength Index Reading (3 Year Range):
Bearish
Bullish
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
0.9
-1.6
4.6
Gasoline Blendstock Futures:
The Gasoline Blendstock Futures large speculator standing this week recorded a net position of 30,488 contracts in the data reported through Tuesday. This was a weekly decrease of -3,202 contracts from the previous week which had a total of 33,690 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 1.2 percent. The commercials are Bullish-Extreme with a score of 95.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 88.5 percent.
Nasdaq Mini Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
24.6
52.7
8.0
– Percent of Open Interest Shorts:
14.7
66.2
4.3
– Net Position:
30,488
-41,866
11,378
– Gross Longs:
75,841
162,330
24,623
– Gross Shorts:
45,353
204,196
13,245
– Long to Short Ratio:
1.7 to 1
0.8 to 1
1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
1.2
95.2
88.5
– Strength Index Reading (3 Year Range):
Bearish-Extreme
Bullish-Extreme
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-8.9
6.4
16.0
#2 Heating Oil NY-Harbor Futures:
The #2 Heating Oil NY-Harbor Futures large speculator standing this week recorded a net position of 4,886 contracts in the data reported through Tuesday. This was a weekly rise of 4,765 contracts from the previous week which had a total of 121 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 49.6 percent. The commercials are Bearish with a score of 45.3 percent and the small traders (not shown in chart) are Bullish with a score of 66.1 percent.
Heating Oil Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
17.3
49.5
17.5
– Percent of Open Interest Shorts:
15.4
58.9
10.1
– Net Position:
4,886
-24,428
19,542
– Gross Longs:
45,231
129,588
45,902
– Gross Shorts:
40,345
154,016
26,360
– Long to Short Ratio:
1.1 to 1
0.8 to 1
1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
49.6
45.3
66.1
– Strength Index Reading (3 Year Range):
Bearish
Bearish
Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
17.2
-9.7
-9.1
Bloomberg Commodity Index Futures:
The Bloomberg Commodity Index Futures large speculator standing this week recorded a net position of -8,383 contracts in the data reported through Tuesday. This was a weekly increase of 2,178 contracts from the previous week which had a total of -10,561 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 75.4 percent. The commercials are Bearish with a score of 23.5 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 percent.
Bloomberg Index Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
33.5
62.0
1.5
– Percent of Open Interest Shorts:
45.0
51.3
0.8
– Net Position:
-8,383
7,865
518
– Gross Longs:
24,512
45,368
1,126
– Gross Shorts:
32,895
37,503
608
– Long to Short Ratio:
0.7 to 1
1.2 to 1
1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
75.4
23.5
37.9
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
10.8
-10.2
-6.8
Article By InvestMacro – Receive our weekly COT Reports by Email
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.
The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.