Over the past month, hedge funds and other portfolio managers have been liquidating some of their bets that oil prices will rise, as concerns about the future of global economy grew amid an intensifying U.S.-China trade war. Money managers have reduced their net long position—the difference between bullish and bearish bets—over the four weeks to May 21, according to the latest exchanges reports compiled by Reuters market analyst John Kemp . The change in the net long position in the week to May 21 was almost exclusively due to liquidation of bets that prices will rise, not the opening of fresh short positions that prices will drop. Portfolio managers have been selling lately Brent Crude and WTI Crude , as well as U.S. gasoline futures, but they have been buying U.S. heating oil and European gasoil, possibly expecting increased demand for heating oil and gasoil in the run-up to […]