Energy speculators continued to cut their net long positions in the crude oil futures markets, 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 264864 contracts in the data reported through April 23, 2024. This was a weekly tumble of 25598 net contracts and pulled net speculative longs to five week low.

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