(Reuters) Continued hedge fund liquidation of former bullish bets on oil and the establishment of new short positions have kept crude prices on the defensive over the last month.Hedge funds and other money managers cut their bullish bets on crude oil by another 22 million barrels over the seven days ending on July 5.
Hedge funds have cut their net long position in crude futures and options by almost a quarter, from 633 million barrels to 485 million, over the last four weeks (tmsnrt.rs/29xLqJT).
