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Money managers raise bullish bets on Brent crude

LONDON, July 10 (Reuters) - Money managers last week raised their bets on a price rise in Brent crude oil futures for the first time in a month, according to data from the InterContinental Exchange.

ICE positioning data released on Monday showed speculators raised their net long holdings of Brent crude futures and options by 30,663 lots to 230,867 contracts in the week to July 4, the first increase since the week of May 30.

Net long holdings of Brent crude futures and options fell to their lowest level in six months at the end of June, as speculators raised their bets against a sustained rise in the price of oil to a record high.

Brent benchmark crude futures rose by 7.6 percent to a one-month high above $49 a barrel in the week to July 4. The price has since fallen, slipping to around $46.15 a barrel by 1100 GMT on Monday.

The data showed speculators raised their net long holdings of 24,983 contracts to 31,125 lots in the week to July 4. (Reporting by Amanda Cooper; Editing by Susan Fenton)