Oil: Net-long position rises, but mostly due to decline in short - CFTC

According to a weekly US Commodity Futures Trading Commission report released Friday, money managers’ net-long position on WTI rose 12% to 149,951 futures and options as of July 3, mainly because short-sellers retreated, Bloomberg reports.

While longs rose by less than 1% to 316,447 contracts, shorts fell 7.8% to 166,496. In the previous three weeks shorts almost doubled, reaching their highest point in almost a year.