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Andy Hall is back, and bullish on oil

Published 12/13/2018, 02:03 PM
© Reuters.  Andy Hall is back, and bullish on oil
SCO
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UCO
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DTO
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SZOXF
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BNO
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OIL
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DBO
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USL
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USO
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DWT
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UWT
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OLO_old
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UGA
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WTID_old
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WTIU_old
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OILX
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OILD_old
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OILU_old
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OIL_OLD
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OILK
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USOD
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USOU
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USAI
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  • Longtime oil bull Andy Hall shuttered his hedge fund in the summer of 2017 after major losses in the first half of that year.
  • Markets are cruel ... Not long after the closing, black gold set off on a bull run that would take it from about $40 per barrel to more than $70 (before crashing again to its current $52).
  • Speaking today on Bloomberg, Hall's bullish, saying the recent big drop in prices is likely to spur demand. He doesn't think the globe is about the fall into recession, and notes China tends to build stockpiles when prices decline.
  • Further, U.S. shale production is especially responsive to prices, so he expects a sizable decline on that front.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, UGA, DTO, USL, DNO, OLO, UHN, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, OILD, OILU, USAI
  • Now read: The Daily Drilling Report's Oilfield Almanac And Gazette: November Edition


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