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‘Largest supply shock ever’ could bring $300 oil, warns hedge-fund manager
The reluctance of energy companies to pour money into new production means that an explosive move in crude to $300 a barrel isn’t out of the question, according to Pierre Andurand, one of the oil sector’s most high-profile hedge-fund managers. At least, that’s what a series of tweets from his account warned before, as Bloomberg reported on Monday, they were deleted. He said that worries over the electric-car revolution have kept a lid on investment in projects with long lead times. “So paradoxically these peak demand fears might bring the largest supply shock ever,” Andurand wrote. “If oil prices do not ... (full story)
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Beware of robber banks (RB), bad advisors.