Hedge funds slashed positive bets on U.S. crude oil for a second straight week to hold the smallest bullish position in nearly five months, industry data released on Friday showed, amid growing worry about oil’s fundamentals. The U.S. Commodity Futures Trading Commission reported that money managers, including hedge funds and other big speculators, cut their combined net longs in U.S. crude futures and options in both New York and London by 44,318 contracts to 111,333 in the week to July 26. That was the lowest net long position held in U.S. crude by money managers since the week ended March 1. In the previous week, managed money net longs in NYMEX-traded West Texas Intermediate (WTI) crude fell by 24,912 contracts. Over an eight-week span, bullish wagers […]