Futures traders appear to bet on higher oil, gas prices

Although the evidence is still tentative, weekly data from the CFTC suggests oil and gas traders are betting on a price rebound in 2017 Although the evidence is still tentative, weekly data from the CFTC suggests oil and gas traders are betting on a price rebound in 2017.
By Peter Stewart 1 February 2017 0 24376
A gas trading floor in Houston, Texas. Evidence suggests traders are expecting prices to recover this year. (BP plc)

The weekly Commitments of Traders data issued by the Commodity Futures Trading Commission is watched closely by oil and gas traders for signs of where oil and gas prices are heading.

The data provides an estimate of the number of contracts held in futures and options markets by four categories of participant: ‘swap dealers’, ‘managed money’, ‘producers and merchants’, and ‘other reportables’.

The number of contracts held by each category of participant is broken down into long and short positions on the New York Mercantile Exchange (NYMEX)...

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