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Commodities Briefing - Categorized | Oil, Price Watch more

Overpriced Oil: The Fundamental Facts

Posted on 05 September 2014

Sometimes dubbed the Billionaire Bettor who always gets things right, Andy Hall has come out swinging. Bloomberg, September 3, reports Hall as saying US shale oil (and even shale gas) “are a dud” and will play down and out much faster than most people think. Hall says there is no way that either US or world Oil prices can erode down to around $75 a barrel.
He says barrel prices will be closer to $150 within five years, by at latest 2019. Hall is buying long-dated oil futures contracts to as far out as 2019 on that basis. His nearly “long only” strategy is as simple as that. Early this year, Hall could buy futures contracts for December 2019 delivery of WTI oil at a barrel price of $76………………………………………..Full Article: Source


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