Guest Post: Is China Behind The Huge Spec Long Position In Crude?

Via Kevin Muir of “The Macro Tourist” fame Usually when CFTC data shows a big speculative position, it is easy to spot the corresponding mood amongst traders. For example, take the current situation with the Canadian dollar. There are record net speculative shorts, and that bias is obvious amongst hedge funds and other professional traders. However, over the past few years, I have been puzzled by the building of a massive record net long speculative position in the WTI crude oil market