Hedge funds and other speculators have made their sharpest cut in more than two and a half years to their bullish exposure toward U.S. crude oil, trade data showed Friday, a further sign that investor confidence in the oil market recovery may be ebbing. U.S. crude prices sunk to three-month lows on Tuesday as Greece’s debt woes and China’s stock market plunge escalated, while Iran continued with efforts to remove Western sanctions on its exports so it could more ship more oil into an already flooded market. Corresponding with the oil price tumble, data from the Commodity Futures Trading Commission (CFTC) showed money managers’ net long position in U.S. crude futures and options fell by nearly 20 percent in the week to Tuesday, the biggest weekly decline since December 2012. Benchmark U.S. West Texas Intermediate […]