U. S. Dollar impact on oil prices

[dan_s]

See chart at: http://www.marketwatch.com/investing/index/dxy/charts

The pullback in the dollar is responsible for about $5/bbl of increase in WTI during April.

[dan_s]

May 4: Speculators have been a solid contributor to WTI’s pricing rebound. The most recent CFTC data shows non-commercial traders increased net long positions for a fourth consecutive week, boosting net long positions by 40,932 contracts (or 14.5%) to 323,092 contracts. The change was driven by a 49,564 contract reduction in short positions, which heavily outpaced long reductions. Long contracts are currently outnumbering shorts by about 5-to-2.

[setliff]

have you got a link to that CFTC data, dan?

[dan_s]

No, I just got that from a PLS newsletter I get. I will e-mail you a copy.