FXStreet (Mumbai) - Oil speculators sharply reduced their overall bullish bets in WTI oil futures last week for a second consecutive week, the latest Commodity Futures Trading Commission data showed. The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, witnessed a weekly change of -14,576 contracts to total a net position of +236,575 contracts in the data reported for October 27th. The standing non-commercial long positions rose by 14,538 contracts, while the short positions fell by 29,114 contracts. The commercials, hedgers or traders engaged in buying and selling for business purposes, reduced their existing bearish positions for a second week to a net total position of -241,583 contracts. For more information, read our latest forex news.