05.06.202619:30:00UTC+00Speculators Trim Bullish Bets on U.S. Crude as Net Longs Edge Lower

Speculative positioning in U.S. crude oil futures softened in the latest reporting week, with net long positions slipping as traders reassessed the outlook for the market. According to the latest data released on 5 June 2026, the CFTC’s measure of crude oil speculative net positions fell to 155.9K contracts, down from 161.0K previously.

The moderation in net long exposure suggests a degree of caution among hedge funds and other large speculators, who had maintained a stronger bullish stance in earlier weeks. While the shift is not dramatic, the reduction in positions may reflect growing uncertainty around demand dynamics, inventory trends, or the broader macroeconomic backdrop influencing energy markets.

For now, the data points to a slightly less optimistic speculative environment for U.S. crude, though positioning remains firmly in net-long territory, indicating that overall sentiment is still tilted toward higher prices rather than a sustained bearish turn.