Trade Jitters Kill Global Crude's Longest Bull Run Since 2011
- Hedge funds cut bets on Brent rally for first time in 10 weeks
- Tension between U.S. and China clouds outlook for oil demand
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The U.S. and China have just killed the longest run of bets on a global oil rally since 2011.
Money managers cut their bullish wagers on Brent crude for the first time in 10 weeks after tensions escalated between the world’s two-largest energy consumers. The optimism hadn’t lasted so long in more than eight years.