Hedge Funds Less Bullish On Oil

Apr 22 2013 | 11:12am ET

Hedge funds have cut their long bets on oil.

Holdings of Brent crude contracts by asset managers dropped by 7.5% in the week ended April 16, ICE Futures Europe said. Hedge funds remain net-bullish on oil, however, with longs outnumbering shorts by 108,100 lots.

Hedge fund's long crude holdings have not been so low since December.

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