CFTC: Speculators raise WTI net long positions to 12-week high

The rise in speculative net longs across WTI, Brent, and gasoline signals growing conviction in the oil complex, likely reflecting expectations of tighter supply or demand recovery. This positioning shift matters because it can amplify price swings if data diverges from those bets. The key watch is whether speculative appetite sustains or reverses on upcoming inventory or macro signals, as stretched positioning often leaves the market more sensitive to surprises.