Hedge Funds Cut ICE Brent Crude Net-Longs to Lowest in 2013
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Hedge funds and other money managers cut bullish bets on Brent crude for the fourth week to the lowest this year, according to data from ICE Futures Europe.
Speculative bets that prices will rise, in futures and options combined, outnumbered long positions by 131,228 lots in the week to March 5, the London-based exchange said today in its weekly Commitment of Traders report. That’s down 18 percent, or 28,588 contracts, from the previous week and is the lowest since Dec. 25.