Speculators raised bullish bets on Crude Oil

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators raised overall bullish bets on WTI crude futures last week.

The non-commercial contracts of crude oil futures saw a weekly change of +10,862 contracts to total a net position of +325,706 contracts. The bullish positions rose by 9,060 contracts, while the bearish positions fell by 1,802 contracts.

Meanwhile, during the reporting time period - April 28th to Tuesday May 5th – WTI crude oil price inched higher from USD 57.06/barrel to USD 60.04/barrel.