Understanding "how do oil futures work" also helps retail traders interpret CFTC positioning data. Net-long positions in crude surged 12% last week, showing rising bullish sentiment despite macroeconomic growth concerns. Strategists say that multiple factors formed a price floor for oil prices. Among them are strong summer demand, aggressive Chinese stock building, and the continuing conflicts in the Middle East and between Russia and Ukraine. Exclusive: Chevron puts $2 billion Colorado pipeline assets for sale, sources say In the stock market, "how do oil futures work" drives energy ETF performance. The XLE gained 1.2% yesterday as nearer-month futures saw strong buying from Chinese refiners anticipating higher summer demand.
