A sample bottle of crude oil is seen in this illustration photo June 1, 2017. — Reuters picNEW YORK, Jan 17 — Oil reversed course as a record crude-buying spree by hedge funds spurred concern that prices may be due for a correction after hitting three-year highs. Futures in New York slipped 0.9 per cent yesterday, ending a five-day rally, while prices in London slid to the lowest in a week. Hedge funds last week boosted their bullish bets on crude to record levels, according to the US Commodity Futures Trading Commission and ICE Futures Europe.