Hedge Funds Cut ICE Brent Net-Longs to Lowest Since Mid-May
This article is for subscribers only.
Hedge funds and other money managers cut bullish bets on Brent crude to the lowest level in six weeks, according to data from ICE Futures Europe.
Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 136,809 lots in the week ended June 25, the London-based exchange said today in its weekly Commitments of Traders report. The decrease of 48,844 contracts, or 26 percent, is the biggest fall in percentage terms since June 5, 2012 and brings net-long positions to the lowest since May 14.