October crude oil prices traded lower during the overnight and initial morning hours, under modest pressure from slowing economic growth concerns in China, as well as profit-taking after recent gains. Some traders also pointed to a slight pullback in risk-taking sentiment as a force weighing on crude oil. Meanwhile, some of the support in the crude oil market comes from growing tensions in the Middle East, with protests at the Afghan capital, as well as a growing urgency from Israel's Prime Minister Netanyahu calling for "red line" against Iran's nuclear development program. The Commitments of Traders Futures and Options report as of September 11th showed non-commercial traders were net long 305,623 contracts, an increase of 15,098. Non-commercial and nonreportable traders combined held a net long position of 313,582 contracts, for an increase of 13,822 in their net long positioning. It is possible that net long positioning could be understated as crude oil prices rallied nearly $2.00 since the report window closed and open interest was up around 30,000 contracts.

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