US Oil Speculators Cut Bullish Bets 7 Percent

Reuters Africa reported that speculators cut their net long U.S. crude oil futures and options positions by 7 percent.

The market news is quoted as saying:

Speculators on the ICE Exchange’s look-a-like U.S. contract in London raised their net long position marginally, upping their holdings by 199 contracts to 15,968. U.S. crude prices fell from $90.21 a barrel on Sept. 13 to $86.89 on Sept. 20.

Click here to access the entire news