Wealth Creation Through Natural Resources
The latest Commitments of Traders data from the CFTC confirms that short covering has been largely responsible for the rally in crude oil during the last eight weeks: With the net-long position reaching a 17-month high and the gross … Continued
WTI crude oil futures are in the process of posting their largest 3-day rally since early 2009. Crude futures are now up ~22% since early Thursday morning’s lows: This morning’s powerful bullish reversal from below $44/barrel to over $48/barrel … Continued
We are seeing a very interesting dynamic take hold in crude oil futures markets: In recent weeks we have witnessed a confluence of forces; speculators have covered shorts in large numbers while also aggressively adding to long positions, meanwhile, producers … Continued