July WTI attempting to regain earlier Asian levels, but lagging the S&P rise, with the contract weighed by latest CFTC data suggesting hedge funds are cutting back their long positions over the last few weeks. Talk that Saudi Arabia may go it alone and raise output after failure to agree quotas at last week’s meeting is also spooking the WTI bulls. Crude’s now around $98.65 after Asian high’s around $99.28 and European lows of $97.82 .