June crude oil traded higher during the initial morning hours, supported by a weaker US Dollar, positive outside markets and reports of escalating violence in Syria and Yemen. There were also rumblings of increased violence in Nigeria following recent elections, which also helped stoke the "fear premium" in the crude oil market. The Commitments of Traders Futures and Options report as of April 19th showed non-commercial traders were net long 325,678 contracts, an increase of 6,121. Non-commercial and nonreportable traders combined held a net long position of 368,191 contracts, an increase of 2,583.
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