Hedge funds cut bullish crude bets from record -CFTC - Reuters

Hedge funds and money managers trimmed their bullish bets on US crude from a record, the US Commodity Futures Trading Commission (CFTC) data showed on Friday.

Reuters report says, "the speculator group cut its combined futures and options position in New York and London by 18,365 contracts to 531,235 in the week to Jan. 30."

Also, gross long positions in US crude futures and options on the New York Mercantile Exchange (NYMEX) rose to a record, while gross short positions edged higher for a third straight week.