Publications: Notes at the Margin

Higher Prices -- A Certainty? (October 10, 2016)


Well-known hedge fund manager Andy Hall told his remaining investors this week to "accept it, OPEC is back in business." Robert McNally, founder of The Rapidan Group, told Platts that Saudi Arabia was engaged in "enhanced verbal intervention," adding that "the thing that Algiers revealed is how eager the Saudis were to pay the Iranian price." PIRA's Gary Ross assured his clients that crude prices would rise above $60 in 2017. These commentaries supporting the price increase occurred despite evidence suggesting global stocks will keep rising. Apparently, the recent moves led by Saudi Arabia have changed trader expectations regarding oil prices, and this has played an important role in the boost in open interest and in crude oil prices.


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