Short positions for Brent crude increased

Investors see the Brent crude market bearish and the number of short positions started to increase in recent weeks. Traders increased the number of short positions by 1,700 contracts and decreased long positions by 1,446 contracts.  Brent oil futures edged down by 20 cents during the last week as European summit failed to stimulate investors' confidence. However, the decline in long positions will not last long as the increased buying of the commodity futures in expected in January, reported Eugen Weinberg, a commodities analyst at Commerzbank.