WTI Crude Oil - Oil Rebound in Sight Despite 'Choppy' Market

On 26 April, Bloomberg reported that Andurand Commodities Fund lost about 12% through March as oil prices linger around $50 a barrel, Pierre Andurand is still betting that slowing MIddle East production and declining U.S. fuel inventories show prices are headed higher.

Andurand's $1.4 billion fund grew 22% last year as he successfully predicted both the early slide in prices and crude's subsequent recovery. This year, crude has been "stuck in a trendless and choppy market".

More details on the news, Oil Bull Andurand Says Rebound in Sight Despite `Choppy' Market

Few days ago, 6 May, The Sydney Morning Herald reported he liquidated the fund's last long positions in oil last week and is running a very reduced risk at the moment, a market source familiar with the development.

But the source said Andurand Capital did not switch its long positions into shorts as it remained "fundamentally bullish on oil".

More on the news, click below link :
Pierre Andurand sells long positions on oil

Source :
1) www.bloomberg.com
2) www.smh.com.au (The Sydney Morning Herald)