Speculative investors in oil cut their bullish bets on the price of crude for the first time in a month last week as doubts grew about the sustainability of this market’s recent rally . Oil prices have surged more than 70% since hitting decade-lows earlier this year on hopes that the global oversupply is set to shrink due to declining U.S. production and a spate of supply disruptions from Nigeria to Venezuela. But last week, hedge funds and other money managers reduced bets that the price of Brent, the international benchmark, will continue to rise, data from the Intercontinental Exchange Inc. ICE 1.06 % showed on Monday. The previous week, such bets hit a record high, amid an uptick in positive sentiment in the oil market. Funds also lowered their bullish bets in West […]