Following an optimistic start to the year and the best January ever for oil prices, hedge funds and other money managers began the month of February more cautiously as fears about global economic growth outweighed (again) OPEC’s cuts and U.S. sanctions on Venezuela and Iran. In the latest reporting week to February 5, portfolio managers added more long positions on Brent Crude , but short positions—bets that prices will fall—also rose for the first time this year. Although the speculative positioning in the week resulted in a slight rise in the combined net long position—the difference between bullish and bearish bets—the increase in short positions suggests that hedge funds are now much more undecided where oil prices will be heading next. According to data from ICE Futures Europe compiled by Reuters market analyst John Kemp , money managers boosted their net long position in Brent Crude in the week […]