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Commodities Briefing - Categorized | Oil, Price Watch more

Speculators cut bets on higher oil prices

Posted on 22 July 2014

Speculators cut their bets on higher Brent crude oil prices by almost a quarter in the week to July 15 after prices dropped to three-month lows. Hedge funds and other money managers curbed their net long futures and options positions to 151,981 – the lowest since April 8 – from 201,568 contracts, the IntercontinentalExchange said in its Commitment of Traders report on Monday.
Concerns about supply disruptions eased, leading investors to unwind bullish positions and sell futures contracts. This prompted prices to fall to $104.39 a barrel – the lowest in three months – in the week ending July 15, after rising to more than $115 a barrel in mid-June………………………………………..Full Article: Source


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