Crude bullish positions fall for 3rd week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), the speculators decreased their bullish bets in WTI Crude futures, thereby taking overall bullish positions lower for a third consecutive week.

The total non-commercial contracts of crude futures stood at +260,659 contracts in the data reported for March 10th. The weekly decrease by 1630 contracts was due to a decline in bullish bets by 2806 contracts, while the bearish positions fell by 1176 contracts.

Meanwhile, during the reporting time-period - March 3rd to March 10th - WTI Crude oil price fell from USD 50.52/barrel to USD 48.29/barrel respectively.