Hedge Funds Cut Bullish Bets on WTI Crude to Eight-Month Low

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Hedge funds slashed their bullish bets on West Texas Intermediate crude prices to the lowest in eight months as expectations ebbed that Israel will strike Iran’s oil infrastructure.

Money managers cutBloomberg Terminal their long-only positions against WTI by 12,309 lots to 172,341, the lowest since February, according to weekly Commodity Futures Trading Commission data on futures and options. Long-only positions in Brent also fell 26,294 lots to 229,936 in the week ending Oct. 15, according to figures from ICE Futures Europe.

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