Crude oil net bullish positions rose sharply

FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC) showed speculators continued to push their overall bullish bets sharply in WTI crude oil futures last week for a fourth consecutive week.

The non-commercial contracts of crude oil futures saw a weekly change of +40,932 contracts to total a net position of +323,092 contracts. The long positions in oil futures fell by -8,632 contracts, while the short positions declined by -49,564 contracts.

Meanwhile, during the reporting time period - April 14th to April 21st – WTI crude futures rose from USD 53.29/barrel to USD 56.61/barrel.