SINGAPORE: Asian oil market continue to decrease as WTI stuck below $50 a barrel in the market.
The experts recons that low production in Chinese markets led to decrease in crude oil prices.
The non-commercial contracts of crude oil futures, traded by large speculators, traders hedge funds, witnessed a change of 10.704 contracts to total a net position of +253,683 contracts in the data reported for July 1sr.
The weekly bullish positions fell by 3704 contracts and that bearish position rose by 7000 contracts.
