Energy 0-for-5 lower led by RBOB -9.62%; precious also red, softs bid
Energy closed down across all five contracts and precious metals across all four, while softs printed gains in sugar, cocoa and cotton and grains saw soybean meal up 5.59%. Copper slipped 0.11%. Livestock split, feeder cattle -5.98% against lean hogs +0.44%.
close 26 AugCOT report 18 Augbuilt 27 Aug 11:46 UTCprice dates span 1d
Cross-section
All 23 markets
Market
Last
1d
1w
Net (MM)
z 52w
Energy
WTI Crude Oil
83.90
-2.83%
-6.52%
87,479
+0.91
Brent Crude Oil
88.24
-4.82%
-6.13%
6,836
-1.11
RBOB Gasoline
2.94
-9.62%
-12.18%
74,081
+0.63
Heating Oil (ULSD)
4.19
-1.92%
-8.36%
15,883
-0.07
Natural Gas
2.70
-4.59%
-8.16%
-100,080
-0.84
Precious Metals
Gold
4,615.45
-1.03%
+2.96%
141,648
+1.25
Silver
67.86
-1.24%
+1.68%
11,695
-0.50
Platinum
1,835.95
-2.91%
+1.42%
7,214
-0.76
Palladium
1,322.05
-2.75%
-1.11%
-5,317
-1.15
Base Metals
Copper
6.70
-0.11%
+1.86%
78,648
+1.56
Grains
Corn
5.36
—
—
181,692
+1.05
Wheat (SRW)
7.48
—
—
-25,328
+0.79
Wheat (HRW)
8.09
—
—
31,497
+1.25
Soybeans
12.62
—
—
151,782
+0.44
Soybean Oil
0.68
+0.16%
-2.48%
91,233
+0.50
Soybean Meal
338.20
+5.59%
+6.45%
83,315
+0.82
Softs
Sugar No. 11
0.18
+2.03%
+0.06%
138,613
+4.23
Coffee C
3.21
—
—
31,612
-0.04
Cocoa
5,829.00
+1.22%
-2.69%
-9,371
-0.36
Cotton No. 2
0.89
+1.81%
+1.83%
72,672
+1.76
Livestock
Live Cattle
2.11
—
—
62,967
-2.39
Feeder Cattle
3.14
-5.98%
-6.27%
10,261
-1.51
Lean Hogs
0.81
+0.44%
-0.09%
-28,997
-1.50
Cross-section of 23 commodity markets | n 23 | WTI Crude Oil last 83.9 1d -2.83% net 87479 z 0.9091183751569065 | Brent Crude Oil last 88.24 1d -4.82% net 6836 z -1.1055818645867017 | RBOB Gasoline last 2.9401 1d -9.62% net 74081 z 0.6256050016648153 | Heating Oil (ULSD) last 4.186 1d -1.92% net 15883 z -0.0673999694064111 | Natural Gas last 2.7 1d -4.59% net -100080 z -0.8355577191596683 | Gold last 4615.45 1d -1.03% net 141648 z 1.2486467726983044 | Silver last 67.865 1d -1.24% net 11695 z -0.49763849039193675 | Platinum last 1835.95 1d -2.91% net 7214 z -0.7638605982868943 | Palladium last 1322.05 1d -2.75% net -5317 z -1.1509466602508454 | Copper last 6.702 1d -0.11% net 78648 z 1.563804256759736 | Corn last 5.3575 1d None% net 181692 z 1.0497255421267233 | Wheat (SRW) last 7.4825 1d None% net -25328 z 0.7900038009387335 | Wheat (HRW) last 8.09 1d None% net 31497 z 1.247671333519698 | Soybeans last 12.615 1d None% net 151782 z 0.4372966477294431 | Soybean Oil last 0.6763 1d 0.16% net 91233 z 0.5000161748278489 | Soybean Meal last 338.2 1d 5.59% net 83315 z 0.8238769296118383 | Sugar No. 11 last 0.1762 1d 2.03% net 138613 z 4.2308841133385 | Coffee C last 3.21 1d None% net 31612 z -0.03645995905571263 | Cocoa last 5829.0 1d 1.22% net -9371 z -0.36434361161446616 | Cotton No. 2 last 0.8866 1d 1.81% net 72672 z 1.7572140561069762 | Live Cattle last 2.1065 1d None% net 62967 z -2.3939919016692963 | Feeder Cattle last 3.13775 1d -5.98% net 10261 z -1.5086787580875425 | Lean Hogs last 0.808 1d 0.44% net -28997 z -1.5031275846430767
Net position is managed money longs minus shorts, in contracts; a positive number is a net long. Net positions are as of the 18 Aug report; prices are the 26 Aug close.
Energy
Energy
Energy was softer, 5 of 5 lower.
All five fell, WTI -2.83% to 83.9 $/bbl and Brent -4.82% to 88.24 as shale drillers boost US oil production, with RBOB -9.62% to 2.9401 $/gal, heating oil -1.92% to 4.186 and natural gas -4.59% to 2.7; managed-money WTI net +7563 to 87479, Brent net -248 to 6836.
Energy — session changeEnergy — one-session change | n 5 | Range: -9.62% to -1.92% | WTI Crude Oil -2.83%, Brent Crude Oil -4.82%, RBOB Gasoline -9.62%, Heating Oil (ULSD) -1.92%, Natural Gas -4.59%
Brent Crude Oil trimmed a heavily short net long.
Energy — positioning, 52-week zEnergy — managed-money net, 52-week z | n 5 | WTI Crude Oil +0.91, Brent Crude Oil -1.11, RBOB Gasoline +0.63, Heating Oil (ULSD) -0.07, Natural Gas -0.84WTI Crude Oil — price and positioningWTI Crude Oil price against managed-money net, 2025-08-26 to 2026-08-25 | price n 249 daily, range 55.44 to 114.58 $/bbl | net n 52 weekly | price sampled monthly: 2025-08-26 63.60, 2025-09-25 65.51, 2025-10-27 62.13, 2025-11-26 58.81, 2025-12-29 57.89, 2026-01-29 64.77, 2026-03-02 71.13, 2026-03-31 102.86, 2026-04-30 108.64, 2026-06-01 95.96, 2026-07-01 69.74, 2026-07-31 86.16, 2026-08-25 83.90 | net sampled monthly: 2025-08-26 24,621, 2025-09-23 26,483, 2025-10-21 -38,154, 2025-11-18 -12,671, 2025-12-16 74, 2026-01-13 47,570, 2026-02-10 79,146, 2026-03-10 92,122, 2026-04-07 78,700, 2026-05-05 70,791, 2026-06-02 90,765, 2026-06-30 81,282, 2026-07-28 92,943, 2026-08-18 87,479Brent Crude Oil — price and positioningBrent Crude Oil price against managed-money net, 2025-08-26 to 2026-08-25 | price n 254 daily, range 59.93 to 138.21 $/bbl | net n 52 weekly | price sampled monthly: 2025-08-26 66.89, 2025-09-24 69.64, 2025-10-23 66.32, 2025-11-21 62.78, 2025-12-22 62.22, 2026-01-23 68.16, 2026-02-23 71.90, 2026-03-24 108.42, 2026-04-24 111.86, 2026-05-27 97.11, 2026-06-25 73.74, 2026-07-24 100.31, 2026-08-24 92.71, 2026-08-25 88.24 | net sampled monthly: 2025-08-26 -1,603, 2025-09-23 5,457, 2025-10-21 11,000, 2025-11-18 16,738, 2025-12-16 10,924, 2026-01-13 17,713, 2026-02-10 14,238, 2026-03-10 14,194, 2026-04-07 15,620, 2026-05-05 17,049, 2026-06-02 6,799, 2026-06-30 6,498, 2026-07-28 15,740, 2026-08-18 6,836RBOB Gasoline — price and positioningRBOB Gasoline price against managed-money net, 2025-08-26 to 2026-08-26 | price n 252 daily, range 1.68 to 3.77 $/gal | net n 52 weekly | price sampled monthly: 2025-08-26 2.12, 2025-09-25 2.00, 2025-10-24 1.92, 2025-11-24 1.90, 2025-12-24 1.75, 2026-01-27 1.87, 2026-02-26 2.03, 2026-03-27 3.25, 2026-04-28 3.56, 2026-05-28 3.19, 2026-06-29 3.06, 2026-07-29 3.40, 2026-08-26 2.94 | net sampled monthly: 2025-08-26 37,465, 2025-09-23 48,695, 2025-10-21 36,103, 2025-11-18 99,395, 2025-12-16 62,939, 2026-01-13 57,380, 2026-02-10 79,741, 2026-03-10 76,098, 2026-04-07 59,177, 2026-05-05 65,703, 2026-06-02 67,773, 2026-06-30 71,924, 2026-07-28 73,877, 2026-08-18 74,081Heating Oil (ULSD) — price and positioningHeating Oil (ULSD) price against managed-money net, 2025-08-26 to 2026-08-25 | price n 249 daily, range 2.09 to 4.71 $/gal | net n 52 weekly | price sampled monthly: 2025-08-26 2.33, 2025-09-25 2.48, 2025-10-27 2.49, 2025-11-26 2.38, 2025-12-29 2.16, 2026-01-29 2.45, 2026-03-02 3.00, 2026-03-31 4.22, 2026-04-30 4.22, 2026-06-01 3.66, 2026-07-01 3.22, 2026-07-31 4.16, 2026-08-25 4.19 | net sampled monthly: 2025-08-26 33,342, 2025-09-23 21,820, 2025-10-21 11,948, 2025-11-18 38,656, 2025-12-16 12,455, 2026-01-13 -5,460, 2026-02-10 20,575, 2026-03-10 20,439, 2026-04-07 17,766, 2026-05-05 11,779, 2026-06-02 11,997, 2026-06-30 8,481, 2026-07-28 11,246, 2026-08-18 15,883Natural Gas — price and positioningNatural Gas price against managed-money net, 2025-08-26 to 2026-08-25 | price n 247 daily, range 2.54 to 30.72 $/MMBtu | net n 52 weekly | price sampled monthly: 2025-08-26 2.82, 2025-09-25 2.98, 2025-10-24 3.21, 2025-11-25 4.12, 2025-12-30 4.40, 2026-02-02 4.40, 2026-03-04 2.87, 2026-04-02 2.86, 2026-05-04 2.67, 2026-06-03 2.97, 2026-07-06 3.29, 2026-08-04 2.74, 2026-08-25 2.70 | net sampled monthly: 2025-08-26 -44,032, 2025-09-23 -63,176, 2025-10-21 -45,917, 2025-11-18 -59,654, 2025-12-16 -66,328, 2026-01-13 -105,134, 2026-02-10 -8,188, 2026-03-10 -62,982, 2026-04-07 -86,033, 2026-05-05 -107,489, 2026-06-02 -114,854, 2026-06-30 -64,808, 2026-07-28 -105,826, 2026-08-18 -100,080
Gold -1.03% to 4615.45 $/oz, silver -1.24% to 67.865, platinum -2.91% to 1835.95 and palladium -2.75% to 1322.05 on gold-prices-dip headlines; managed-money gold net +3986 to 141648.
Soybean meal rose 5.59% to 338.2 $/short ton and soybean oil 0.16% to 0.6763 $/lb; managed-money nets rose in corn by 55817 to 181692, soybeans by 42673 to 151782, soybean meal by 9625 to 83315 and both wheats.
Feeder cattle -5.98% to 3.13775 $/lb while lean hogs +0.44% to 0.808 $/lb; managed-money nets -2982 to 62967 in live cattle, -641 to 10261 in feeders and -4634 to -28997 in hogs.
Books against the sessionManaged-money 52-week z against one-session change | n 17 | WTI Crude Oil z +0.91 chg -2.83%, Brent Crude Oil z -1.11 chg -4.82%, RBOB Gasoline z +0.63 chg -9.62%, Heating Oil (ULSD) z -0.07 chg -1.92%, Natural Gas z -0.84 chg -4.59%, Gold z +1.25 chg -1.03%, Silver z -0.50 chg -1.24%, Platinum z -0.76 chg -2.91%, Palladium z -1.15 chg -2.75%, Copper z +1.56 chg -0.11%, Soybean Oil z +0.50 chg +0.16%, Soybean Meal z +0.82 chg +5.59%, Sugar No. 11 z +4.23 chg +2.03%, Cocoa z -0.36 chg +1.22%, Cotton No. 2 z +1.76 chg +1.81%, Feeder Cattle z -1.51 chg -5.98%, Lean Hogs z -1.50 chg +0.44%
Managed-money net position expressed as a z-score over 52 weeks, against the session price change. Live cross-section.
Notes
Prices are the 26 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 18 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.
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.
Soybeans: the two closes belong to two different contracts (ZSU26.CBT then ZSX26.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.
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.