Oil Traders Shrink Exposure as Bullishness Wanes ...Middle East

Crude oil traders have been reducing their exposure to contracts for the commodity in a sign that sentiment is yet again changing. Net-long bets on West Texas Intermediate fell for the fourth week in a row, reaching the lowest since last October, Bloomberg reported today, citing data from the ICE stock exchange and the U.S. Commodity Futures Trading Commission. The change was caused both by a decline in net-long position and an expansion in net-short ones, the report noted, as a potential peace deal for Ukraine, a resumption in oil exports from…

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