It seems as if Andy Hall of Astenbeck Capital Management, who was once known as the ‘Oil God’ thanks to his skill at predicting the direction of oil markets, has finally changed his view on oil prices. Since the beginning of 2015, when oil prices first started to slide, Hall’s belief that the decline is only temporary has been unwavering, and as other oil bulls have thrown in the towel, Hall has continued to try to justify his bullish stance.
However, it now looks as if Hall has become the latest oil bull to capitulate. In a July 3rd letter to investors of Hall’s oil-focused hedge fund, Astenbeck Capital, a copy of which has been reviewed by ValueWalk, the...
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