The data released by the Commodity Futures Trading
Commission (CFTC) on Friday showed the speculators reduced the net bullish bets
for the third consecutive week.
The non-commercial futures contracts of WTI Crude Oil
futures saw a weekly reduction of -1,576 contracts to total 328,764 net
contracts. The overall position has now fallen to the lowest standing since
November 29th.
Oil benchmarks - WTI and Brent - suffered more than 14% drop
in the first half; the biggest fall since 1998. Brent and WTI fell about 19% in
the first half of 1998.
Current Crude Oil Status:
Currently, Crude Oil is
trading at 46.19, up + 0.33%, having posted a daily high at 46.38 and low at 46.15.
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