Brent Oil Could Jump To $115 In Coming Weeks: Duet Commodities

Energy prices fell again in January, but low stocks in OECD countries and some disruptions that prevented new supply from coming online give room for prices to rebound. Heating oil in the US in particular could jump if the run of bad weather continues.

“Total OECD stocks are at multi-year lows with the latest data showing a historic stock drawdown of 1.5Mbd in Q4-13. Early January numbers suggest stocks are flat on the month instead of the normal seasonal build,” says the most recent Duet Commodities Fund investor letter. “We are bullish and believe that 2014 will provide, as we said last month, very interesting opportunities in the commodities space.”

Falling energy prices an overreaction: Duet

Duet Commodities thinks the recent dip...