Crude oil net bullish positions rise for second consecutive week

FXStreet (Mumbai) - As per the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC), the speculators increased their overall bullish bets on WTI Crude futures last week - March 31st to April 7th.

The non-commercial contracts of crude oil futures saw a weekly change of +25,348 contracts to total a net position of +252,043 contracts. Long positions in oil futures increased by 4,901 contracts, while the short positions fell by 20447 contracts.

Meanwhile, during the reporting time period, the WTI crude oil price pushed higher from USD 47.60 to USD 53.98/barrel.