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2 Mar 2015
Oil net bullish positions decline
FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) on Friday, Oil net long positions fell last week, after the bets had jumped in the previous week.
The non-commercial contracts of crude oil futures stood at 269,837 contracts in the data reported for February 24th. The bullish bets in oil futures actually rose by 12,164 contracts, but were more than offset by the bearish positions that increased sharply by 41,717 contracts.
Meanwhile, during the reporting time period - February 17th to February 24th - the WTI crude oil price fell from USD 54.29 to USD 49.21/barrel.
The non-commercial contracts of crude oil futures stood at 269,837 contracts in the data reported for February 24th. The bullish bets in oil futures actually rose by 12,164 contracts, but were more than offset by the bearish positions that increased sharply by 41,717 contracts.
Meanwhile, during the reporting time period - February 17th to February 24th - the WTI crude oil price fell from USD 54.29 to USD 49.21/barrel.