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Oil Declines From One-Week High as China Manufacturing Weakens

In London, hedge funds and other speculators reduced bullish bets on Brent crude to their lowest level in more than a month in the week ended Sept. 25, according to data from ICE Futures Europe.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 107,127 lots, the London-based exchange said today in its weekly Commitment of Traders report. That’s a reduction of 837 contracts from 107