Speculators cut net bullish positions in Crude

FXStreet (Mumbai) - Speculators and large futures traders reduced their overall bullish positions in WTI Crude futures last week, showed the Commodity Futures Trading Commission (CFTC) data.

The non-commercial contracts of crude oil futures totaled a net position of 274,271 contracts in the data reported for January 27th. Long positions in oil futures rose by a total of 15,773 contracts, while short positions rose by 22,771 contracts.

During the reporting period - January 20th to January 27th - the WTI crude oil price declined from USD 46.47 to USD 46.43/barrel.