WTI crude oil prices climbed to a two-month high above $65 per barrel mark waiting optimistic outcome from US-China trade talks that could boost demand for the commodity. Besides, geopolitical tensions also continued to support oil prices. Meanwhile, energy speculators enhanced their net long positions in the crude oil futures market yet again, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Crude oil futures, traded by large speculators, hedge funds and retailers, totaled a net long position of 167957 contracts in the data reported through week ended June 3, 2025. This was a weekly gain of 2263 net contracts.

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