Hedge fund managers accelerated their profit-taking in crude oil and refined fuels last week, as confidence in the previous price rally faltered and the market fell. Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by 133 million barrels in the week to Oct. 16. Fund managers have cut their combined position by a total of 187 million barrels in the last three weeks after earlier raising it by 196 million barrels in the previous five weeks. Funds now hold a net position equivalent to 912 million barrels, the lowest since Aug. 21 and before that […]