The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Rigs contracted by Apache Corp drill for crude oil locked tight in shale in west Texas' Permian Basin near the town of Mertzon, Texas in this October 29, 2013, file photo.
Rigs contracted by Apache Corp drill for crude oil locked tight in shale in west Texas' Permian Basin near the town of Mertzon, Texas in this October 29, 2013, file photo.
(Terry Wade/Reuters)

Oil prices at imminent risk of hitting air pocket

Speculation on West Texas Intermediate crude oil benchmark prices is running rampant, increasing the odds of a sharp sell-off in the weeks ahead.

The weekly Commitment of Traders report is released by the U.S. Commodity Futures Trading Commission every Friday, and includes data up until the previous Tuesday. It details total futures exposure in a number of markets, including WTI crude. The Non-Commercial (ie. not oil producers) statistics are used as a proxy for hedge fund positioning.