Hedge funds are growing more pessimistic about oil prices as sentiment on the global economy sours. :
(Bloomberg) -- Hedge funds are growing more pessimistic about oil prices as sentiment on the global economy sours. Money managers pushed bets on a decline in Brent crude prices to the highest since mid-January in the week ended July 2, according to data released Friday. It was another sign of waning faith in a week that saw prices drop amid a host of sluggish reports on global manufacturing. That overshadowed a deal by OPEC and its allies to extend supply cuts.