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Column: Oil prices lose momentum as funds cut positions- oil and gas 360

Column: Oil prices lose momentum as funds cut positions

Reuters Portfolio managers trimmed their bullish positions in petroleum last week for the second week running, after prices again failed to break through the recent ceiling around $70 per barrel. Hedge funds and other money managers sold the equivalent of 35 million barrels in the six most important petroleum futures and options contracts in the week to May 18, according