The latest Commitment of Traders (CoT) report from the ICE platform, published on Wednesday morning, shows that investment funds lifted their net long holdings (long positions minus short positions) to another all-time high at the end of last week.

According to market data, net long positions increased for a third consecutive week, reaching 114 million allowances and surpassing the previous record of 113.3 million set the prior Friday. This also marks the fifth straight week in which net long holdings have remained above the 100-million threshold.

Speculative traders increased their long positions by 1 million allowances, lifting the total to 141.8 million, while short positions rose by a modest 0.3 million to 27.8 million allowances. Despite the limited increase, this marks the first rise in short exposure in three weeks. “The modest rebuilding of short positions suggests some profit-taking or hedging at elevated price levels,” Quantum Commodity Intelligence said.

The bullish sentiment captured in ICE’s report was also reflected in market activity. EUA Dec-25 futures briefly rallied to a ten-month high during Friday’s session and closed 2.2% above the previous week’s settlement.