Pierre Andurand: Oil Markets Are Worse Off Than Many Traders Realise

Popular hedge-fund manager Pierre Andurand is cautioning that the oil markets are worse off than many traders believe, according to the Wall Street Journal. When asked why oil prices aren’t higher than they are given the grave situation in Ukraine, one manager of a $1 billion hedge fund has a frightening answer: it’s because traders just haven’t realized just how bad things are yet. Andurand compared what’s happening now with the Russia/Ukraine crisis to the ostrich effect that took place during the early stages of the Covid-19…