Hedge funds and other large investors reduced their net long position on the New York Mercantile Exchange by 12,369 positions to 167,177 during the week.

Speculators on the ICE Exchange’s look-a-like US contract in London raised their net long position marginally, upping their holdings by 199 contracts to 15,968.  US crude prices fell from $90.21 a barrel on Sept. 13 to $86.89 on Sept. 20.

In the previous week to Sept. 13, speculators had raised their net-long positions by a combined 15 percent in New York  and London.

Speculators also reduced their net long positions in RBOB gasoline futures and options , cutting them by 6,389 or 12 percent to 44,920.

RBOB gasoline prices fell to $2.7014 a gallon from $2.7424 a gallon in the week to Tueesday.

Money managers raised their net longs in heating oil, however, increasing them by 2,342 or 10 percent to 25,619 ahead of the winter season.

Heating oil rose to $2.9616 a gallon over the week from $2.9361 a gallon on Sept. 13.

Heating oil’s premium over RBOB gasoline hit the highest level since January 2009 on Thursday.