Hedge Funds Cut Brent Crude Bullish Bets by Most in Four Months
This article is for subscribers only.
Hedge funds and other money managers cut bullish bets on Brent crude by the most in four months, according to data from ICE Futures Europe.
Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 119,451 lots in the week ended Oct. 29, the London-based exchange said today in its weekly Commitments of Traders report. That’s a reduction of 30,710 contracts, or 21 percent, from the previous week, and the biggest drop since the week ended June 25.