January crude oil prices traded higher during the early morning hours, fueled by more evidence of robust holiday sales in the US, signs of progress on the European rescue fund talks and ideas that China will pursue a pro-growth theme in 2012. Some traders indicated that prices rallied to their best levels of the morning in response to a well-subscribed Italian bond auction. Meanwhile, a level of support continues to come from possible supply disruptions as western nations turn up sanctions against Iran. The Commitments of Traders Futures and Options report as of November 22nd showed non-commercial traders were net long 225,523 contracts, a decrease of 12,702. Non-commercial and nonreportable traders combined held a net long position of 244,396 contracts, for an increase of 2,533. Money managers were active sellers during the report week, trimming their net long position by more than 12%.