Hedge-fund managers and other large speculators decreased their net-long position in New York crude-oil futures in the week ended May 20, according to U.S.
Commodity Futures Trading Commission data.
Speculative long positions, or bets prices will rise, outnumbered short positions by 50,230 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Net-long positions fell by 21,537 contracts, or 30 percent, from a week earlier.
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