Hedge funds pare bullish bets on U.S. crude to 1-month low | Reuters

Hedge funds pare bullish bets on U.S. crude to 1-month low | Reuters:

Hedge funds trimmed their bullish wagers on U.S. crude to the lowest in about a month, data showed on Friday, as trade tensions between the United States and China continued to escalate, raising concerns about oil demand.

The speculator group cut its combined futures and options position in New York and London by 15,972 contracts to 342,839 in the week to Sept. 18, the U.S. Commodity Futures Trading Commission (CFTC) said.

Money managers slashed gross long positions to the lowest levels in a year, driving the reduction.