London | Pierre Andurand, one of the world’s best-known hedge fund managers specialising in oil, cashed in on US crude’s historic crash this week, adding to strong gains in both of his main funds this year.
Mr Andurand, who has been betting against crude prices since early in the year, said he saw little respite for the oil industry until a vaccine was discovered for coronavirus, which has led to a sharp economic slowdown and cut the world’s demand for oil by as much as one-third.
