Crude Oil Longs Rise as Gold Loses Luster in Latest COT Report

The latest Commitments of Traders (COT) report released by the Commodity Futures Trading Commission (CFTC) on August 21, 2026, shows significant shifts in speculative positioning across major futures markets.

In the energy sector, non-commercial traders increased their net long positions in crude oil futures, signaling renewed bullish sentiment amid supply concerns. This could put upward pressure on prices.

Conversely, gold futures saw a reduction in net long positioning, as rising interest rates and a firmer U.S. dollar index dampened appeal for the precious metal. The decline in gold longs may signal further downside.

The COT report is a weekly publication that details the holdings of different trader categories, commercial, non-commercial, and non-reportable, in futures markets. It is widely used by analysts to gauge market sentiment and potential price direction.