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Investors are losing faith in an oil-price recovery next year as Iran prepares to add more crude to a global glut.Hedge funds reduced bets on rising prices to a three-month low and kept bearish wagers near a record high in the week ended Dec. 22, data from the U.S. Commodity Futures Trading Commission show.Iran, which expects sanctions over its nuclear program to be lifted by the first week of January, has secured customers for its planned supply expansion, an Iranian oil official said this month.Speculators' long positions in WTI fell by 3,198 contracts to 259,181 futures and options, CFTC data show.In other markets, net bearish wagers on U.S. ultra low sulfur diesel decreased 5.3 percent to 39,172 contracts.Net bullish bets on Nymex gasoline slipped 9.7 percent to 21,385 contracts as futures declined 5.6 percent.
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