US crude net-long positions hit lowest since 2007, CFTC reports
By Georgina McCartney
HOUSTON, Aug 29 (Reuters) - Money managers reduced their net-long U.S. crude futures and options positions for the fourth straight week in the week to August 26, hitting the lowest level since January 2007, data from the U.S. Commodity Futures Trading Commission (CFTC) showed on Friday.
CONTEXT
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have accelerated output hikes to regain market share, raising the supply outlook and weighing on global oil prices.
Meanwhile, U.S. crude output has been robust, hitting another record high in June, the EIA said on Friday.
Investors have been grappling with low oil prices after U.S. President Donald Trump unveiled an extensive list of trade tariffs in April, stoking concerns of a recession and a drop in fuel demand.
BY THE NUMBERS
The speculator group reduced its net-long positions in West Texas Intermediate crude futures and options on the Chicago Mercantile Exchange in the week to August 26 by 5,461 lots, to 24,225.
Related Articles
What Is the Fed’s Monetary Policy Framework? Does the 2025 Update Mean a More Hawkish or Dovish Fed?
TradingKey - As Federal Reserve Chair Jerome Powell signaled rate cuts at the 2025 Jackson Hole symposium, the Fed also unveiled a major update to its five-year monetary policy framework review, reflecting the need to adapt to new economic realities. Compared to the 2020 framework, the 2025 version
NVIDIA Q2 FY2026: Surfing the AI Surge with Blackwell, Steering Through China’s Export Challenges
TradingKey - NVIDIA Corporation (NASDAQ: NVDA) reported strong Q2 FY2026 results on August 27, 2025, after market close, driven by robust AI-powered demand and adoption of its next-generation Blackwell GPU platform. The company delivered significant revenue and profit beats overall, with...
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
TSMC Q2 FY2025 Earnings Review: AI Drives Record Growth Amid Currency, Geopolitical Risks
TradingKey - TSMC (NYSE: TSM) reported its Q2 FY2025 earnings on July 17, 2025, delivering a strong performance that exceeded expectations, driven by surging AI demand and advanced technology adoption. Following the earnings release, TSMC’s stock in the U.S. market surged 4.36% in after-hours...
