Reuters – Banks and other swap dealers have been left holding the rest of the market’s unwanted long positions in WTI-linked futures and options, as prompt crude prices ran into stiff resistance and began the descent back to earth.
Hedge funds and other money managers slashed their net long position almost 20 percent, from 128,000 contracts to just 103,000, in the week ending June 29, according to data published by the U.S. Commodity Futures Trading Commission.
