Investors dump higher oil bets as prices fall-ICE

LONDON, July 28 Mon Jul 28, 2014 7:08am EDT

LONDON, July 28 (Reuters) - Hedge funds and other large speculators cut their bets on higher Brent crude oil and gasoil sharply in the week to July 22, IntercontinentalExchange Inc. said on Monday, after oil prices fell to their lowest in three months.

The ICE said money managers reduced their net long futures and options positions in Brent by 34,786 contracts to 117,195, and at the same time cut their net long gasoil positions by 13,947 contracts to 20,604. (Reporting by Christopher Johnson)