Bullish bets on WTI trimmed - CFTC

According to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday, hedge funds and other money managers cut their bullish bets on the US crude futures and options positions in the week to Sept 12.

The WTI net-long position slipped 7% to 157,891 contracts in the week ended Sept. 12. Longs fell 5.2%, while shorts dropped 3.2%. WTI crude oil speculative bullish positions have now fallen lower for five out of the past six weeks and remain below the +400,000 net contract position for a third straight week.