Top oil trader befuddled by ‘complicated’ demand outlook | Financial Times:
The top trader at Merchant Commodity Fund, a London-based hedge fund, has warned that oil prices are likely to remain volatile, describing the outlook for the market as “the most complicated” in years.
Doug King, who has led the commodity-focused hedge fund to a 16.1 per cent gain this year through a series of profitable bets, told the Financial Times there was still great uncertainty over the prospects for prices. Brent crude has slid 20 per cent over the last five weeks, after rallying 50 per cent between January and April, from $50 a barrel to $75.
“The oil market is as complicated as I’ve seen it in a very long time,” Mr King said.
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