Andy Hall: Global Oil Demand To Be Higher Than Many Expect
Oil prices fell 8% on Monday, proving to anyone who still needed the lesson that macro is hard and pricing commodities isn’t for the faint of heart. But in a July 1st letter to investors reviewed by ValueWalk (ie, before Monday) Astenbeck Capital Management chairman Andy Hall explained why we should be too concerned about short-term bumps.
“Despite the lackluster price action, underlying fundamentals for oil continue to improve,” he wrote. “Low prices really do cure low . . .
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