COT Week 22 Charts: Energy Speculator Positions Mixed led by Heating Oil, Gasoline

COT Week 22 Charts: Energy Speculator Positions Mixed led by Heating Oil, Gasoline

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 May 31st 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 also had lower contracts. Leading the gains for energy were Heating Oil (6,319 contracts), Gasoline (1,265 contracts) and Natural Gas (1,202 contracts). Meanwhile, leading the declines in speculator bets this week were WTI Crude Oil (-1,785 contracts) and Brent Crude Oil (-1,583 contracts) with Bloomberg Commodity Index (-1,048 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 above its midpoint for the past 3 years while all the other markets are below the 50 percent level.

Strength score trends (or move index, that show 6-week changes in strength scores) shows that heating oil, natural gas and WTI crude have had rising scores over the past six weeks.


Data Snapshot of Commodity Market Traders | Columns Legend
May-31-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,787,928 9 332,976 10 -373,761 91 40,785 72
Gold 513,722 18 172,589 5 -200,056 95 27,467 32
Silver 147,301 14 13,997 15 -23,861 99 9,864 6
Copper 189,923 19 -18,025 29 15,425 70 2,600 40
Palladium 6,538 1 -3,133 4 3,221 95 -88 39
Platinum 67,964 35 2,363 7 -6,501 96 4,138 20
Natural Gas 1,115,815 7 -110,368 45 59,679 50 50,689 100
Brent 181,699 25 -40,872 43 38,941 58 1,931 35
Heating Oil 248,966 15 121 43 -17,967 52 17,846 60
Soybeans 753,373 34 186,078 71 -158,757 34 -27,321 25
Corn 1,564,217 32 404,200 82 -353,348 22 -50,852 14
Coffee 214,170 8 43,015 76 -45,757 28 2,742 17
Sugar 848,463 11 201,680 78 -240,752 23 39,072 56
Wheat 331,136 11 22,309 48 -18,647 33 -3,662 91

 


WTI Crude Oil Futures:

WTI Crude Oil Futures COT ChartThe WTI Crude Oil Futures large speculator standing this week recorded a net position of 332,976 contracts in the data reported through Tuesday. This was a weekly fall of -1,785 contracts from the previous week which had a total of 334,761 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 9.9 percent. The commercials are Bullish-Extreme with a score of 91.0 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: 23.6 34.8 5.0
– Percent of Open Interest Shorts: 5.0 55.7 2.7
– Net Position: 332,976 -373,761 40,785
– Gross Longs: 421,683 622,867 89,200
– Gross Shorts: 88,707 996,628 48,415
– Long to Short Ratio: 4.8 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 9.9 91.0 72.5
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 8.9 -8.7 -3.9

 


Brent Crude Oil Futures:

Brent Last Day Crude Oil Futures COT ChartThe Brent Crude Oil Futures large speculator standing this week recorded a net position of -40,872 contracts in the data reported through Tuesday. This was a weekly lowering of -1,583 contracts from the previous week which had a total of -39,289 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 42.6 percent. The commercials are Bullish with a score of 58.0 percent and the small traders (not shown in chart) are Bearish with a score of 35.3 percent.

Brent Crude Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 14.7 54.0 4.2
– Percent of Open Interest Shorts: 37.2 32.6 3.2
– Net Position: -40,872 38,941 1,931
– Gross Longs: 26,712 98,147 7,700
– Gross Shorts: 67,584 59,206 5,769
– Long to Short Ratio: 0.4 to 1 1.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 42.6 58.0 35.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.3 2.1 -6.9

 


Natural Gas Futures:

Natural Gas Futures COT ChartThe Natural Gas Futures large speculator standing this week recorded a net position of -110,368 contracts in the data reported through Tuesday. This was a weekly gain of 1,202 contracts from the previous week which had a total of -111,570 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 45.5 percent. The commercials are Bearish with a score of 49.6 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

Natural Gas Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 20.5 37.4 6.8
– Percent of Open Interest Shorts: 30.4 32.0 2.3
– Net Position: -110,368 59,679 50,689
– Gross Longs: 228,487 417,276 75,815
– Gross Shorts: 338,855 357,597 25,126
– Long to Short Ratio: 0.7 to 1 1.2 to 1 3.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 45.5 49.6 100.0
– Strength Index Reading (3 Year Range): Bearish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.9 -7.1 6.6

 


Gasoline Blendstock Futures:

RBOB Gasoline Energy Futures COT ChartThe Gasoline Blendstock Futures large speculator standing this week recorded a net position of 33,690 contracts in the data reported through Tuesday. This was a weekly advance of 1,265 contracts from the previous week which had a total of 32,425 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 4.4 percent. The commercials are Bullish-Extreme with a score of 91.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 94.9 percent.

Nasdaq Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 24.7 53.9 7.7
– Percent of Open Interest Shorts: 13.8 68.9 3.7
– Net Position: 33,690 -46,032 12,342
– Gross Longs: 76,089 165,784 23,735
– Gross Shorts: 42,399 211,816 11,393
– Long to Short Ratio: 1.8 to 1 0.8 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 4.4 91.0 94.9
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -9.0 4.9 26.7

 


#2 Heating Oil NY-Harbor Futures:

NY Harbor Heating Oil Energy Futures COT ChartThe #2 Heating Oil NY-Harbor Futures large speculator standing this week recorded a net position of 121 contracts in the data reported through Tuesday. This was a weekly advance of 6,319 contracts from the previous week which had a total of -6,198 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 42.6 percent. The commercials are Bullish with a score of 52.1 percent and the small traders (not shown in chart) are Bullish with a score of 60.2 percent.

Heating Oil Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 17.4 49.7 16.7
– Percent of Open Interest Shorts: 17.4 56.9 9.5
– Net Position: 121 -17,967 17,846
– Gross Longs: 43,360 123,782 41,618
– Gross Shorts: 43,239 141,749 23,772
– Long to Short Ratio: 1.0 to 1 0.9 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 42.6 52.1 60.2
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.5 -7.4 -7.8

 


Bloomberg Commodity Index Futures:

Bloomberg Commodity Index Futures COT ChartThe Bloomberg Commodity Index Futures large speculator standing this week recorded a net position of -10,561 contracts in the data reported through Tuesday. This was a weekly reduction of -1,048 contracts from the previous week which had a total of -9,513 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 67.1 percent. The commercials are Bearish with a score of 31.9 percent and the small traders (not shown in chart) are Bearish with a score of 38.5 percent.

Bloomberg Index Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 63.6 28.5 1.9
– Percent of Open Interest Shorts: 93.7 0.0 0.4
– Net Position: -10,561 10,027 534
– Gross Longs: 22,382 10,027 679
– Gross Shorts: 32,943 0 145
– Long to Short Ratio: 0.7 to 1 inf to 1 4.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 67.1 31.9 38.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.8 7.7 -7.6

 


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*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.

Invest Macro

Invest Macro

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