TSX:PWT - Post Discussion
Post by
makedonka on Apr 26, 2017 7:16am
Oil Bull Andurand Says Rebound in Sight
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"Saudi cuts, declining U.S. fuel stocks among bullish signs"
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"His fund has lost 12% through March as crude rally falters"
"Oil’s jerky path to recovery has been a frustrating, money-losing affair for hedge fund trader Pierre Andurand this year, but he’s sticking to his view that the commodity is set to rebound.
Even after his Andurand Commodities Fund lost about 12 percent through March as oil prices linger around $50 a barrel, he’s still betting that slowing Middle East production and declining U.S. fuel inventories show prices are headed higher, according to a letter to investors obtained by Bloomberg News.
“While the price action year-to-date has proven to be extremely frustrating, our bullish outlook for oil prices has not changed," Andurand wrote. “We maintain the view that front month oil prices will reach new highs over the next few months as fundamentals improve considerably going into the summer."
https://www.bloomberg.com/news/articles/2017-04-25/oil-bull-andurand-says-rebound-in-sight-despite-choppy-market
https://www.bloomberg.com/news/articles/2017-04-25/oil-bull-andurand-says-rebound-in-sight-despite-choppy-market
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