Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Fund managers trim bets oil futures will go higher *PIC*

Fund managers trim bets oil futures will go higher (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Fund managers slightly cut their bets oil futures will go higher , data released late Friday by U.S. regulators showed. Net long positions fell to 224,441 contracts in the week ended May 31, according to the Commodity Futures Trading Commission. Net longs had ended the previous week around 225,600 contracts. Conditions are still overbought, said Tim Evans, an analyst with Citigroup's Citi Futures Perspective. These "are still big long positions, with associated vulnerability on the downside," he said. Crude-oil futures (cln11) edged lower Friday, down 0.2% to $100.22 a barrel on the New York Mercantile Exchange.