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Hedge Funds Stay Bullish on Brent while Trimming WTI

(Reuters) Hedge fund managers have remained bullish towards Brent even as the approach of Hurricane Florence turned them against WTI and refined fuels were hit by liquidation.Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by 29 million barrels in the week to Sept. 11. The reduction in net length was a notable reversal after portfolio managers had boosted their bullish position by a total of 172 million barrels over the two previous weeks.

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