French trader who bet the house on oil shock and wonCrude oil of the kind stored at this facility in Cushing, Oklahoma, has become hard to sellLONDON - French trader and specialist oil hedge fund manager Pierre Andurand saw it coming from early February. His call -- and a lucrative one at that -- was that there would be a massive slump in oil prices, to the point of unprecedented negative prices for 'black gold'. "There is no limit to the drop in prices ... negative prices are possible," the founder of Andurand Capital posted to Twitter on April 20. He also made strong gains in 2014 when oil prices halved. By 2000, he would be working for Goldman Sachs in Singapore, moving on first to Bank of America, then Dutch oil trader Vitol in London.

Source: Bangkok Post June 14, 2020 03:56 UTC