US Commodity Futures Trading Commission data showed oil non-commercial net positions rising to 80.3K, up from 74.3K in the previous report. The move points to an increase in speculative long exposure over the latest reporting period.
Increase in Speculative Long Exposure
The change leaves positioning 6.0K contracts higher than last week, indicating traders added to net length rather than cutting risk.
Outlook for Sustained Position Levels
Markets will track whether the higher net position level is sustained in subsequent CFTC releases.