CRUDE OIL, LIGHT SWEET-WTI

CRUDE OIL, LIGHT SWEET-WTI · ICE FUTURES EUROPE · CFTC code 067411 · week ending 2026-08-11

Trader category

Range

Managed Money is net short 1.1% of open interest — a crowded long

Managed Money holds a net position of −8,436 contracts, or 1.1% of the 797,158 contracts of open interest, leaving the category net short. That is more than two standard deviations above its three-year average — positioning is stretched, and stretched positioning is fuel for a sharp unwind if the narrative changes (z = +2.25 and sits at 98 on a 0–100 scale of its three-year range). In contracts, the net position moved −1,346 while open interest moved +14,969 — new shorts entering, with fresh money taking the short side as open interest grew. That is −0.15pp as a share of open interest.

Net position as a share of open interest

Managed Money · blue above the line is net long, red below is net short

Open interest

The denominator. Positioning shares mean little without knowing whether the market itself is growing or shrinking.

Z-score vs its own 3-year history

Shaded beyond ±2σ. Measures how unusual today's share is for this market.

COT Index (0–100)

Rank within the 3-year range. Shaded below 10 and above 90.

Weekly flow, adjusted for open interest

Change in the net share week over week, in percentage points of open interest.

Who is on the other side

Net share of open interest by trader group. The groups net to zero — every long is someone's short.

Producer / Merchant Swap Dealer Managed Money Other Reportable Non-Reportable

Recent weeks (table view)

Week	Open interest	Net	Net % OI	Δ pp	Z	COT Idx
2026-08-11	797,158	−8,436	-1.06%	-0.15	2.25	98
2026-08-04	782,189	−7,090	-0.91%	0.37	2.39	100
2026-07-28	781,193	−9,959	-1.27%	0.96	2.24	100
2026-07-21	770,415	−17,208	-2.23%	0.83	1.74	94
2026-07-14	791,680	−24,220	-3.06%	-1.14	1.27	81
2026-07-07	801,410	−15,417	-1.92%	-0.11	1.93	98
2026-06-30	806,905	−14,657	-1.82%	0.47	2.02	100
2026-06-23	803,067	−18,387	-2.29%	0.59	1.78	95
2026-06-16	822,990	−23,666	-2.88%	0.49	1.46	86
2026-06-09	818,492	−27,568	-3.37%	-0.10	1.18	79
2026-06-02	816,733	−26,694	-3.27%	0.45	1.26	80
2026-05-26	830,992	−30,858	-3.71%	0.45	1.01	73