Long-Time Bull, “Oil God”, Andrew Hall, Capitulates On $100 Oil; Sees $45-$50 Range

It appears that Andrew Hall, the (iin)famous oil trader, is finally giving up on his prediction that the price of oil will return to $100 a barrel in the near-term.

Hall, whose record profitability in oil trading has earned him the nickname ‘the Oil God’ has been claiming that oil will return to $100 a barrel since the price of the commodity began its decline during 2014. But in a letter to investors of Hall’s hedge fund, Astenbeck Capital at the beginning of September, the oil God appears to backtrack on this target, according to a copy of the letter obtained by ValueWalk.

Is Andrew Hall giving up on $100 oil?

Astenbeck’s regular letters to investors have become somewhat of an...