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Hedge Funds Cautious on Oil as Economic Outlook Darkens

(Reuters) Hedge fund managers have started to turn more bearish on oil as concerns about a slowing global economy and an over-extended price rally outweigh fears about sanctions and supply disruptions. Hedge funds and other money managers were net sellers of 25 million barrels of futures and options in the six major contracts linked to petroleum prices in the week to May 7

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