The Oct WTI trading session settled at 68.97 (+1.66), had a high of 69.81, a low of 67.24. Cash price is at 67.29 (+1.50), while open interest came in at 219,822. Higher on the day by 2.47% CLV traded above its 7 day (68.39) but below its 20 day (72.31), its 50 day (76.2), and its 200 day (77.47) moving-averages. The COT report as of 9/3 showed commercials with a net short position of -239,369 compared to non-commercials who are net long 204,784. This is the first back-to-back day of gains we’ve seen in September. Oil continued its rally from the previous session today (this is the first session to pass through the 7 day moving-average since 8/30), as analysts from UBS estimated Hurricane Francine could have disrupted as much as 1.5 million barrels, which would reduce September…
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