October 5, 2015 / 11:18 AM / 4 years ago

Investors cut bullish bets on Brent crude oil -ICE

LONDON Oct 5 (Reuters) - Investors cut their bets last week that the price of Brent crude oil will rise, according to data on Monday from the InterContinental Exchange (ICE).

Fund managers cut Brent net long positions by 4,362 contracts to 169,457 in the week to Sept. 29, the data showed.

Front-month Brent crude oil prices dropped in September by more than 10 percent to $48.37 a barrel.

Speculators also reduced their net long positions for Low Sulphur Gasoil (LGOc1> last week by 1,856 contracts to 12,466 contracts. This was the third straight week of declines. (Reporting by Ron Bousso; Editing by Susan Fenton)

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