From Precy Dumlao, Opalesque Asia – The U.S. Commodity and Futures Trading Commission over the weekend reported that the bullish position held by hedge funds and other large speculators in U.S. commodities recorded the highest decline since April on concern over oil and natural gas, demand and the overall health of the American economy, various media reported.
In a report, the Business Times said that bets held by fund managers in some 24 commodity markets dropped to $67bn as of June 4 or less than $680m compared to figures in late April.
The decline was the sharpest reported by the CFTC when the volume of outflow reached $4.2bn on April 23.
The CFTC also noted a decline in the futures of U.S. crude oil traded on the New York Mercantile Exchange that fell $504m as of June 4.
In a separate report, Reuters said crude oil prices in the U.S. declined by about $2 a barrel on June 4 before settling to $93 a barrel after investors expressed concerns that the Federal Reserve would cut back the monetary stimulus sooner than earlier projected.
A day earlier, Bloomberg reported that hedge funds......................
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