Crude oil net bullish positions rise to highest since September

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) on Friday, speculators and large traders increased net bullish positions to the highest since September 2014. The bullish bets had declined in the previous three weeks.

The non-commercial contracts of crude oil futures stood at 299,390 contracts in the data reported for February 17th. The long positions in oil futures slipped by just 248 contracts while the short positions fell sharply by 28,111 contracts. This resulted in a net change of +27,863 contracts.

Meanwhile, over the reporting time frame – Feb 10th to Feb 17th - the WTI crude oil price saw a rise from USD 50.02/barrel to USD 54.29/barrel.