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Hedge Funds Cut ICE Brent Crude Net-Longs to 12-Week Low

Bloomberg – Hedge funds and other money managers cut bullish bets on Brent crude to the lowest level in 12 weeks, according to ICE Futures Europe.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 167,745 lots in the week ended Sept. 24, the London-based exchange said today in its weekly Commitments of Traders report. The reduction of 19,388 contracts, or 10 percent, curbs net-longs to their lowest since July 2.

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