Reuters – Hedge funds and other large speculators cut their bets on higher Brent crude oil prices in the week to June 3 and slashed positions in ICE gas oil by more than 40 percent, data from the Intercontinental Exchange (ICE) showed on Monday.
Brent crude speculators cut their net long positions by 16,420 futures and options contracts to 196,944 in the seven days to June 3, the first reduction in four weeks and only the second cut since the first week of April.
