Hedge funds cut their bullish position on US crude to the lowest since early April as President Donald Trump’s Aug. 1 deadline for trade deals stoked concerns the trade war will sap energy demand.
Money managers decreased their net long position on West Texas Intermediate by 10,018 lots to 86,088 lots in the week ending July 22, weekly Commodity Futures Trading Commission data on futures and options show. That’s the lowest since April 8.