FX.co ★ Speculators Boost Bullish Bets on U.S. Crude as Net Longs Climb to 124.6K

Speculative interest in U.S. crude oil futures strengthened notably, with CFTC crude oil speculative net positions rising to 124.6K, up from 97.0K previously. The latest data, updated on 06 February 2026, indicate a clear increase in net long positions, suggesting that traders have grown more optimistic about the near-term outlook for oil prices.

The jump of 27.6K contracts in net speculative longs points to a firmer bullish sentiment in the market. While the data alone do not reveal the underlying drivers, the move signals that hedge funds and other large speculators are positioning more aggressively for potential price gains in U.S. crude oil. Market participants will be watching upcoming reports and macroeconomic indicators to gauge whether this growing optimism will be sustained in the weeks ahead.