Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Fund managers less bullish on oil, CFTC data shows *PIC*

Fund managers less bullish on oil, CFTC data shows (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Fund managers overall still believe crude-oil futures will go higher, but have cut "long" positions in the week ended April 12, according to the latest report by the U.S. Commodity Futures Trading Commission released Friday. The managers cut their long positions by 21,894 positions, and added 1,894 short positions, or bets the market will go lower. Net long positions declined to 281,579 positions from 305,297 positions in the previous week. The May oil futures contract (clk11) declined nearly 6% on Monday and Tuesday combined, but lost 2.8% on the week as price recouped losses in subsequent days, including Friday's 1.4% gain to settle at $109.66 a barrel on the New York Mercantile Exchange.