Energy speculators yet again sharply added to their net long positions in the crude oil futures market, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Crude oil futures, traded by large speculators, hedge funds and retailers, totaled a net long position of 306291 contracts in the data reported through January 14, 2024. This was a weekly surge of 26724 net contracts and kept net longs at six month high.

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