Crude long positions sharply reduced full investigation into whether or not scare off speculative funds futures _ _ Sina Financial Highlights – Sina

Is it because of a comprehensive survey of crude oil bulls Jiancang

⊙ this reporter Huang Rong

Last Thursday, the U.S. Commodity Futures Trading Commission (CFTC) announced that the crude oil futures market is a comprehensive survey to understand whether there was manipulation of oil prices the phenomenon last Friday, CFTC data released by the position of the entire last week, crude oil Futures speculative net long position剧降50 percent of all of a sudden, large number of long speculative funds appear to be crazy to escape the market at the same time, U.S. crude oil futures last week has fallen from a historical high of 3.7 percent. Yesterday was the first trading day this week, crude oil futures this fall still have not changed, as at press time, U.S. crude July contract or have more than one U.S. dollars / barrel (that is, more than 1 per cent).

CFTC latest report released by the futures positions, the New York Mercantile Exchange (NYMEX), crude oil futures speculative net long position in the last week when his position from 50,060 to 25,867 hand, speculative net long position reduced by 24,193 hands, or nearly 50 percent. At the same time, the commercial net short position last week, the position from the previous 19,443 to 11,169 hand in hand, or are larger.

With the withdrawal of speculative funds last week, oil prices have also emerged diving high prices. May 22, NYMEX July crude oil contract hit a record high of 135.09 U.S. dollars, in the May 23 closing slightly eased to 132.19 U.S. dollars. Since then the whole last week, although oil prices have had around 130 U.S. dollars in the struggle, but in the end still fall last week, U.S. crude oil closed at 127.35 U.S. dollars, Zhou reached a 3.66 percent decline.

This combination of price last week-or picture, many market participants believe that this is undoubtedly Ibid. CFTC announced Thursday the oil futures market is a comprehensive survey to understand whether there was manipulation of oil prices on.

An overseas source, in fact, the crude oil market for a comprehensive survey as early as May 22 (that is, when crude oil reaching record highs) had been launched only last Thursday officially announced it. "So last week fell through two days are concerned with this investigation." A market participants said.

From the disk, crude oil last week's crash occurred mainly in the May 27 and May 29 when: May 27 crude oil fell 4.09 U.S. dollars, or more than the 3.08 percent in the May 29 (CFTC announced Investigation crude manipulation of the day), the United States once again expand the decline in crude oil, down 4.41 U.S. dollars / barrel, or 3.37 percent, to close at 126.62 U.S. dollars.

There are some market participants insisted that the rising oil prices had little to do with the funds, mainly caused by the fundamentals of supply and demand situation. Market participants cited a recent U.S. government announced a set of data that oil prices since last June from more than 60 U.S. dollars from the start, as oil prices continue to record high, hedge funds and speculators in fact, which is gradually Jiancang , So far these funds to invest in oil resources have been substantially reduced by 80 per cent. At the same time, as at May 27 crash of crude oil that is the day the data showed that speculative long positions fell to 215,999 in hand, and on June 31 last year, speculative long positions reaching record highs compared to 264,395 in hand, the May 27 date speculative longs The position has only dropped by 18 percent. "This set of data to tell you in the end the number of speculative funds in crude oil futures on opening the granary. You can not fully aware of high oil prices driven by the Fund, but by the fundamentals of supply and demand dominated by the situation." International energy advisory body Paul Tossetti market analysts said.

However, many think it is the manipulation of the market price of crude oil is the Fund's own position data transparency and accuracy of the doubt on that, they think that a lot of funds (in addition to traditional funds, there are index funds, and pension funds and some Sovereignty Fund) statistics may not be the position of speculative positions in this classification. Therefore, the position of these funds will also be asked for details of the CFTC included in the survey.

It is learnt that the June 3 CFTC will publish the survey results, then the market may give a "who manipulated the oil price in the end," the answer.

chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.

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