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Speculators cut U.S. crude oil net longs-CFTC

Money managers cut their net long U.S. crude futures and options positions in the week to May 11, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

The speculator group cut its combined futures and options position in New York and London by 19,321 contracts to 381,947 during the period.

The data below exclude trader positions in the NYMEX financial crude oil futures contract, which is normally included in our aggregate calculations. The data were not provided by the CFTC this week.

Selected categories from the CFTC weekly Commitment of Traders report:

FUTURES + OPTIONS        Managed                 Swaps              Producer
                             Net        Chg        Net        Chg        Net        Chg
NYMEX Crude              360,228    -24,208   -516,950      5,102    -86,041     -5,349
ICE WTI crude             21,719      4,887   -133,957        879     83,877     10,738
                      ---------- ---------- ---------- ---------- ---------- ----------
Total                    381,947    -19,321   -650,907      5,981     -2,164      5,389

RBOB                      67,440     -1,890     36,138      1,418   -105,887       -717
Heating oil               22,309      2,794     74,745     -2,920   -105,985        473

                           Other             NonReport                  Open
                             Net        Chg        Net        Chg   Interest        Chg
NYMEX Crude              181,362     20,098     61,400      4,357  3,158,691     31,878
ICE WTI crude             26,853    -15,118      1,508     -1,387    718,981     14,625
                      ---------- ---------- ---------- ---------- ---------- ----------
Total                    208,215      4,980     62,908      2,970  3,877,672     46,503

RBOB                     -10,631     -1,636     12,939      2,823    398,813     20,193
Heating oil              -16,389        -50     25,321       -297    406,183      3,931
=======================================================================================
FUTURES ONLY             Managed                 Swaps              Producer
                             Net        Chg        Net        Chg        Net        Chg
NYMEX Crude              331,020    -24,296   -439,612      5,919   -117,239     -6,300
ICE WTI crude             20,848      5,370   -125,245      1,223     83,340     10,172
                      ---------- ---------- ---------- ---------- ---------- ----------
Total                    351,868    -18,926   -564,857      7,142    -33,899      3,872
RBOB                      66,331     -1,802     36,393      1,330   -105,433       -572
Heating oil               22,309      2,794     73,769     -3,017   -105,333        511

                           Other             NonReport                  Open
                             Net        Chg        Net        Chg   Interest        Chg
NYMEX Crude              165,541     20,844     60,290      3,833  2,444,466     24,825
ICE WTI crude             20,420    -15,329        637     -1,436    546,343     12,838
                      ---------- ---------- ---------- ---------- ---------- ----------
Total                    185,961      5,515     60,927      2,397  2,990,809     37,663
RBOB                      -9,850     -1,712     12,559      2,756    391,265     19,773
Heating oil              -15,790         14     25,045       -302    399,477      3,545

Source: Reuters (Reporting by NY Energy Desk: 646-223-6050)

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