ERHC Energy Inc (ERHE)

[Spec29]

Speculators Switch to Longs...


(Copyright © 2005 Energy Intelligence Group, Inc.)
Monday, June 13, 2005
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Crude oil and heating oil speculators on the New York Mercantile Exchange switched to net long positions in the week ended Jun. 7 in a bet prices would rise, the Commodity Futures Trading Commission (CFTC) said Friday.

Noncommercial crude oil speculators switched to 1,375 net longs from 17,401 net shorts in the previous week, with a total of 92,147 longs and 90,772 shorts, according to the CFTC's weekly Commitments of Traders report. Open interest rose by 192 to 783,546.

Noncommercial speculators in the heating oil market switched to 5,910 net longs from 2,356 net shorts in the previous week. There were 31,097 longs and 25,187 shorts. Open interest rose 4,957 to 179,860.

In the gasoline market, noncommercial speculators increased net longs to 20,176 from 15,793 in the previous week, with a total of 29,347 longs and 9,171 shorts. Open interest rose by 10,783 to 141,590, the CFTC said.



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