Commodity Futures Trading Commission data show the net-long position that hedge funds held in West Texas Intermediate declined 3.3% for the week ended June 5, reaching the lowest level since October. Bullishness on Brent crude, gasoline and diesel also was down amid signs of heightened oil output from Saudi Arabia.
Hedge funds' net-long position in WTI hits lowest point since Oct.
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.