Oil Prices Drop 4.5% On Record-Bearish Sentiment from Money Managers

WTI crude futures fell 4.5% on Tuesday morning as hedge funds and money managers continued to sour on crude oil. Bearish Sentiment on Oil Still Yet to Hit Bottom- Hedge funds and other money managers have turned the most bearish on crude ever since the CFTC started to publish information on market positioning, with Brent and WTI net longs totaling a mere 139,242 lots in the week ended September 3.  - As the oil market gathered in Singapore this week for the annual Appec conference, Trafigura head of oil trading Ben Luckock said oil would dip…