Hedge funds and other big speculators cut their bullish wagers on U.S. crude for a second straight week, to the lowest since November, as worries about oil oversupplies grew, data showed on Friday. Global crude prices, including that of the U.S. West Texas Intermediate (WTI), have struggled to find a bottom over the past six weeks as initial fears that a 60 percent price drop since June was excessive were later offset by burgeoning oil production. Prices of WTI, and Brent, the London-traded global benchmark for crude, fell 9 percent this week as a rallying dollar brought further pressure on dollar-denominated commodities, making them more expensive to holders of the euro and other currencies. Separately, data from the Commodity Futures Trading Commission showed the net long position in WTI held by money managers, including hedge funds and speculators, dropping by 5,613 contracts to 181,474 in […]