Hedgers Increase Share of U.S. Crude oil Futures

Commercial hedgers increased their stake in sales of U.S. crude oil and heating oil futures during May, according to a U.S. federal agency report.

Trade hedgers accounted for 64.7 pct of open short positions in May, compared with 58.2 pct in April, and added 5,700 new sales in May, while liquidating almost 11,000 purchases, the report said.

Speculators, in contrast, saw a decline in share of crude oil shorts in May. May spec shorts totaled 13.6 pct versus 25.6 pct in April. The report was prepared by the Commodity Futures Trading Commission.

In heating oil futures, commercial users accounted for 68.7 pct of short postions in May versus 58.2 pct in April and added 311 new short positions.

Gasoline futures saw little change in the percentage of short or long positions held by commercial users, speculators, or small traders, according to the CFTC report. Trade users accounted for 72.5 pct of short gasoline futures positions in May, compared with a revised 75.7 pct in April. New York Mercantile Exchange Commitments of traders, May 29, 1987

SPECULATOR SPREADERS HEDGERS TOTAL

LONG SHRT LONG SHRT LONG SHRT LONG SHRT HEATING 16.1 5.7 2.5 2.5 49.7 68.7 68.2 76.8 OIL SMALL TRADERS - long 31.8 short 23.2 UNLEADED 10.8 4.0 7.0 7.0 64.4 72.5 82.3 83.6 GAS SMALL TRADERS - long 17.7 short 16.4 CRUDE 15.1 13.6 5.5 5.5 61.2 64.7 81.8 83.8 OIL SMALL TRADERS - long 18.2 short 16.2