WTI +1.42%, RBOB -7.15%; soy complex lifts on Black Sea port shutdowns
Energy breadth was 2 up and 1 down of 5 as WTI printed $82.4/bbl and RBOB $2.9044/gal, grains 3 up of 3 on the soy complex, and precious 1 up and 1 down of 2. Managed-money futures nets into the 2026-08-11 COT showed WTI at 79916 after a 7042 cut, soybeans at 109109 after a 23415 cut, and natural gas at -110630 after a 16303 rise. Softs breadth was 1 up and 1 down of 2, while livestock carried no one-day percentage changes.
close 14 AugCOT report 11 Augbuilt 17 Aug 11:47 UTC
Cross-section
All 23 markets
Market
Last
1d
1w
Net (MM)
z 52w
Energy
WTI Crude Oil
82.40
+1.42%
+3.30%
79,916
+0.76
Brent Crude Oil
88.82
+2.09%
+1.37%
7,084
-0.97
RBOB Gasoline
2.90
-7.15%
-2.71%
69,851
+0.38
Heating Oil (ULSD)
4.33
+0.00%
+10.74%
13,574
-0.32
Natural Gas
2.75
+0.00%
+7.42%
-110,630
-1.18
Precious Metals
Gold
4,390.70
—
—
137,662
+1.07
Silver
64.61
-0.54%
+0.44%
11,158
-0.58
Platinum
1,738.55
+0.27%
-0.55%
7,718
-0.67
Palladium
1,320.10
—
—
-4,947
-0.99
Base Metals
Copper
6.61
—
—
79,027
+1.61
Grains
Corn
4.83
—
—
125,875
+0.69
Wheat (SRW)
6.89
—
—
-33,400
+0.61
Wheat (HRW)
7.68
—
—
25,606
+1.11
Soybeans
11.93
+2.08%
+3.11%
109,109
-0.06
Soybean Oil
0.69
+0.44%
+1.19%
79,284
+0.35
Soybean Meal
316.30
+2.07%
+2.66%
73,690
+0.73
Softs
Sugar No. 11
0.17
-1.31%
+0.91%
43,584
+3.51
Coffee C
3.12
—
—
32,433
+0.06
Cocoa
5,786.00
—
—
-6,667
-0.08
Cotton No. 2
0.84
+1.51%
+0.46%
66,780
+1.74
Livestock
Live Cattle
2.19
—
—
65,949
-2.43
Feeder Cattle
3.35
—
—
10,902
-1.39
Lean Hogs
0.82
—
—
-24,363
-1.50
Cross-section of 23 commodity markets | n 23 | WTI Crude Oil last 82.4 1d 1.42% net 79916 z 0.7616985462557693 | Brent Crude Oil last 88.82 1d 2.09% net 7084 z -0.9732030847095096 | RBOB Gasoline last 2.9044 1d -7.15% net 69851 z 0.37734983944477096 | Heating Oil (ULSD) last 4.33 1d 0.0% net 13574 z -0.32058203578186045 | Natural Gas last 2.75 1d 0.0% net -110630 z -1.1788210364556022 | Gold last 4390.7 1d None% net 137662 z 1.0680019417969828 | Silver last 64.605 1d -0.54% net 11158 z -0.5848650981892426 | Platinum last 1738.55 1d 0.27% net 7718 z -0.6721458801321419 | Palladium last 1320.1 1d None% net -4947 z -0.9875957216529972 | Copper last 6.613 1d None% net 79027 z 1.6069952057746997 | Corn last 4.8325 1d None% net 125875 z 0.6925078566671122 | Wheat (SRW) last 6.895 1d None% net -33400 z 0.6075855465392617 | Wheat (HRW) last 7.6775 1d None% net 25606 z 1.1073607973861233 | Soybeans last 11.925 1d 2.08% net 109109 z -0.05519699990565763 | Soybean Oil last 0.6897 1d 0.44% net 79284 z 0.3501113514179189 | Soybean Meal last 316.3 1d 2.07% net 73690 z 0.727501521564214 | Sugar No. 11 last 0.166 1d -1.31% net 43584 z 3.5096706687236474 | Coffee C last 3.12 1d None% net 32433 z 0.06214701120908892 | Cocoa last 5786.0 1d None% net -6667 z -0.07596958709477582 | Cotton No. 2 last 0.836 1d 1.51% net 66780 z 1.7410499551582566 | Live Cattle last 2.18875 1d None% net 65949 z -2.4290302671440713 | Feeder Cattle last 3.3455 1d None% net 10902 z -1.3908962379010177 | Lean Hogs last 0.8175 1d None% net -24363 z -1.4952940268482424
Net position is managed money longs minus shorts, in contracts; a positive number is a net long. Net positions are as of the 11 Aug report; prices are the 14 Aug close.
Energy
Energy
Energy was firmer, 2 of 5 higher.
WTI rose 1.42% to $82.4/bbl and Brent 2.09% to $88.82/bbl while RBOB fell 7.15% to $2.9044/gal, with heating oil unchanged at $4.33/gal and natural gas unchanged at $2.75/MMBtu; managed-money nets were 79916 in WTI (−7042), 7084 in Brent (+393), 69851 in RBOB (−34), 13574 in heating oil (+2477) and −110630 in natural gas (+16303).
Energy — session changeEnergy — one-session change | n 5 | Range: -7.15% to +2.09% | WTI Crude Oil +1.42%, Brent Crude Oil +2.09%, RBOB Gasoline -7.15%, Heating Oil (ULSD) +0.00%, Natural Gas +0.00%
Natural Gas covered a heavily short net short.
Energy — positioning, 52-week zEnergy — managed-money net, 52-week z | n 5 | WTI Crude Oil +0.76, Brent Crude Oil -0.97, RBOB Gasoline +0.38, Heating Oil (ULSD) -0.32, Natural Gas -1.18WTI Crude Oil — price and positioningWTI Crude Oil price against managed-money net, 2025-08-14 to 2026-08-14 | price n 250 daily, range 55.44 to 114.58 $/bbl | net n 52 weekly | price sampled monthly: 2025-08-14 64.99, 2025-09-15 63.66, 2025-10-15 59.08, 2025-11-14 60.87, 2025-12-16 55.44, 2026-01-16 59.40, 2026-02-18 65.33, 2026-03-19 96.11, 2026-04-20 91.06, 2026-05-19 112.09, 2026-06-18 80.35, 2026-07-21 86.04, 2026-08-14 82.40 | net sampled monthly: 2025-08-19 27,445, 2025-09-16 36,799, 2025-10-14 -18,766, 2025-11-10 -11,646, 2025-12-09 6,878, 2026-01-06 24,528, 2026-02-03 76,760, 2026-03-03 68,385, 2026-03-31 73,347, 2026-04-28 80,331, 2026-05-26 79,924, 2026-06-23 82,872, 2026-07-21 63,979, 2026-08-11 79,916Brent Crude Oil — price and positioningBrent Crude Oil price against managed-money net, 2025-08-14 to 2026-08-14 | price n 254 daily, range 59.93 to 138.21 $/bbl | net n 52 weekly | price sampled monthly: 2025-08-14 68.12, 2025-09-15 67.88, 2025-10-14 63.00, 2025-11-12 61.88, 2025-12-11 61.87, 2026-01-14 68.87, 2026-02-12 69.80, 2026-03-13 103.23, 2026-04-15 114.93, 2026-05-15 113.96, 2026-06-16 80.50, 2026-07-15 83.08, 2026-08-13 87.00, 2026-08-14 88.82 | net sampled monthly: 2025-08-19 -276, 2025-09-16 5,415, 2025-10-14 8,431, 2025-11-10 18,488, 2025-12-09 14,829, 2026-01-06 16,484, 2026-02-03 13,281, 2026-03-03 15,099, 2026-03-31 19,881, 2026-04-28 13,812, 2026-05-26 9,568, 2026-06-23 6,823, 2026-07-21 14,255, 2026-08-11 7,084RBOB Gasoline — price and positioningRBOB Gasoline price against managed-money net, 2025-08-14 to 2026-08-14 | price n 252 daily, range 1.68 to 3.77 $/gal | net n 52 weekly | price sampled monthly: 2025-08-14 2.11, 2025-09-15 2.01, 2025-10-14 1.83, 2025-11-12 1.96, 2025-12-12 1.75, 2026-01-14 1.83, 2026-02-13 1.91, 2026-03-17 3.12, 2026-04-16 3.16, 2026-05-15 3.70, 2026-06-16 2.88, 2026-07-17 3.39, 2026-08-14 2.90 | net sampled monthly: 2025-08-19 25,972, 2025-09-16 48,283, 2025-10-14 34,162, 2025-11-10 77,000, 2025-12-09 84,498, 2026-01-06 49,065, 2026-02-03 67,731, 2026-03-03 85,285, 2026-03-31 63,483, 2026-04-28 61,800, 2026-05-26 67,062, 2026-06-23 71,095, 2026-07-21 73,707, 2026-08-11 69,851Heating Oil (ULSD) — price and positioningHeating Oil (ULSD) price against managed-money net, 2025-08-14 to 2026-08-14 | price n 250 daily, range 2.09 to 4.71 $/gal | net n 52 weekly | price sampled monthly: 2025-08-14 2.29, 2025-09-15 2.38, 2025-10-15 2.24, 2025-11-14 2.59, 2025-12-16 2.18, 2026-01-16 2.24, 2026-02-18 2.57, 2026-03-19 4.38, 2026-04-20 3.60, 2026-05-19 4.29, 2026-06-18 3.13, 2026-07-21 4.14, 2026-08-14 4.33 | net sampled monthly: 2025-08-19 31,771, 2025-09-16 24,303, 2025-10-14 12,152, 2025-11-10 38,673, 2025-12-09 19,969, 2026-01-06 451, 2026-02-03 24,377, 2026-03-03 23,352, 2026-03-31 19,425, 2026-04-28 12,499, 2026-05-26 7,689, 2026-06-23 6,408, 2026-07-21 13,381, 2026-08-11 13,574Natural Gas — price and positioningNatural Gas price against managed-money net, 2025-08-14 to 2026-08-14 | price n 248 daily, range 2.54 to 30.72 $/MMBtu | net n 52 weekly | price sampled monthly: 2025-08-14 2.78, 2025-09-15 3.00, 2025-10-14 2.83, 2025-11-13 3.60, 2025-12-16 3.58, 2026-01-21 4.96, 2026-02-20 3.15, 2026-03-23 2.94, 2026-04-22 2.75, 2026-05-21 3.14, 2026-06-23 3.15, 2026-07-23 2.92, 2026-08-14 2.75 | net sampled monthly: 2025-08-19 -36,687, 2025-09-16 -23,091, 2025-10-14 -75,339, 2025-11-10 -52,820, 2025-12-09 -31,091, 2026-01-06 -101,384, 2026-02-03 -47, 2026-03-03 -76,252, 2026-03-31 -67,616, 2026-04-28 -97,245, 2026-05-26 -134,426, 2026-06-23 -82,722, 2026-07-21 -102,756, 2026-08-11 -110,630
Gold was last at $4390.7/oz with managed-money net up 6896 to 137662 as headlines stated gold prices advance, silver fell 0.54% to $64.605/oz with net down 816 to 11158, and platinum rose 0.27% to $1738.55/oz with net down 3242 to 7718.
Soybeans rose 2.08% to $11.925/bu, soybean meal 2.07% to $316.3/short ton and soybean oil 0.44% to $0.6897/lb as Russia and Ukraine shut each other's grain ports, while managed-money nets fell 23415 to 109109 in soybeans, 18946 to 125875 in corn, 8530 to −33400 in SRW wheat and 5890 to 25606 in HRW wheat.
Sugar No. 11 fell 1.31% to $0.166/lb and cotton rose 1.51% to $0.836/lb, with managed-money net in sugar up 130772 to 43584 and in cotton up 11459 to 66780 against headlines on a white sugar rally and tighter supply outlook.
Books against the sessionManaged-money 52-week z against one-session change | n 12 | WTI Crude Oil z +0.76 chg +1.42%, Brent Crude Oil z -0.97 chg +2.09%, RBOB Gasoline z +0.38 chg -7.15%, Heating Oil (ULSD) z -0.32 chg +0.00%, Natural Gas z -1.18 chg +0.00%, Silver z -0.58 chg -0.54%, Platinum z -0.67 chg +0.27%, Soybeans z -0.06 chg +2.08%, Soybean Oil z +0.35 chg +0.44%, Soybean Meal z +0.73 chg +2.07%, Sugar No. 11 z +3.51 chg -1.31%, Cotton No. 2 z +1.74 chg +1.51%
Managed-money net position expressed as a z-score over 52 weeks, against the session price change. Live cross-section.
Notes
Prices are the 14 Aug close. This note is written before the US open and carries no overnight session: moves in Asian and European hours after that close are not reflected above.
Positioning is the CFTC Commitments of Traders (Disaggregated) report for 11 Aug, futures only. The Base Metals section covers copper alone — it is the only base metal in this universe with a daily price.
Contract rolls. A continuous front-month series is two different contracts either side of a roll, and the change across that seam measures the calendar spread rather than the tape.
Gold: the two closes belong to two different contracts (GCQ26.CMX then GCU26.CMX) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Palladium: the two closes belong to two different contracts (PAQ26.NYM then PAU26.NYM) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Copper: the two closes belong to two different contracts (HGQ26.CMX then HGU26.CMX) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Corn: the two closes belong to two different contracts (ZCU26.CBT then ZCZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Wheat (SRW): the two closes belong to two different contracts (ZWU26.CBT then ZWZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Wheat (HRW): the two closes belong to two different contracts (KEU26.CBT then KEZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Coffee C: the two closes belong to two different contracts (KCU26.NYB then KCZ26.NYB) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Cocoa: the two closes belong to two different contracts (CCU26.NYB then CCZ26.NYB) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Live Cattle: the two closes belong to two different contracts (LEQ26.CME then LEV26.CME) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Feeder Cattle: the two closes belong to two different contracts (GFQ26.CME then GFU26.CME) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Lean Hogs: the two closes belong to two different contracts (HEQ26.CME then HEV26.CME) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.