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The oil-trading 'god' has been burned by his bullish bet, but he's not giving up
Prominent oil trader Andrew J. Hall, who runs $2 billion energy and commodities hedge fund Astenbeck Capital, has gotten burned on his bullish bet on oil prices. Astenbeck Capital fell 4% in January, according to Reuters. Last year, the fund fell more than 36%, its biggest loss ever, the report said. This year, oil has fallen to its lowest level in 12 years. On Tuesday, WTI hit $28.15 a barrel, down about 5%, and Brent hit $30.57, down about 7%. Meanwhile, the S&P GSCI Crude Oil Index has fallen more than 22% year-to-date. "If 2015 ended badly, the start of 2016 was even worse," Hall wrote in an investor ... (full story)
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