Trading crude oil futures show speculative net length near

Trading crude oil futures show speculative net length near 14-month highs, indicating strong conviction in higher prices. Commodity strategists warn that any surprise build in inventories could trigger a short-term correction, though structural supply constraints remain supportive. As President Trump began his second term, he proclaimed in his inauguration speech that America would "drill, baby, drill," promising a boom in drilling and lower prices at the pump. Crude oil’s price history can be fairly described as a highlight reel of economic chaos. In July 2008, Brent crude rocketed to a record of approximately $147 a barrel as demand soared and everyone panicked about running out. Consumers felt it right away—gas in the U.S. blew past $4 a gallon, hitting wallets hard at the exact moment the financial system was cracking. Trading crude oil futures saw heightened volatility this week as WTI crude tested the $80/barrel mark amid stronger-than-expected U.S. inventory draws. Hedge fund positioning shows net longs increasing 4% week-over-week, suggesting bullish momentum could persist if demand forecasts in Asia hold. The current backwardation in the futures curve signals tighter near-term supply conditions.