Oil Net Positions Edge Higher Amid Growing Bullish Sentiment

The latest Commodity Futures Trading Commission (CFTC) data shows that net long positions in oil futures have increased by 1.3K contracts to 123.4K, up from 122.1K in the prior period.

This modest increase reflects a slightly more optimistic outlook on crude prices among traders.

The CFTC publishes weekly commitments of traders (COT) reports, which provide a breakdown of positions held by different market participants.

Oil prices have been sensitive to various factors, including geopolitical tensions, inventory levels, and macroeconomic data.