Traders Stayed Mixed about Energy as Trump Pulled Out of Iran Deal

Speculators were mixed over the energy complex in the week ended May 8. Net LENGTH for crude oil futures plunged -10 799 contracts from a week ago to 679 928. NET LENGTH of heating oil rose +5 463 contracts to 32 460 while net LENGTH for gasoline added +1 726 contracts to 84 753. Net SHORT for natural gas increased -124 023 contracts to 124 023 for the week.

Speculators were also mixed over the precious metal complex last week. Net LENGTH for gold added +661 contracts to 107 440. Silver’s net SHORT slipped -7 075 contracts to 121 for the week. For PGMs, net LENGTH for platinum dropped -376 contracts to 10 388 while that for palladium was down -469 contracts to 10 296.