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But we saved everything 🙂.
Alexander Stahel, founder and CIO at Commodity Private Equity Fund, highlights a shift in the oil market to contango.
He observes that Asian refiners are largely covered through August and that prompt barrels released from the Strait are now entering an already well-supplied market. This has led to an overhang in balances while China remains absent, causing the collapse of front-end backwardation.
Stahel has addressed shifts in other markets this year. He recently reported that Partners Group will limit withdrawals at its flagship U.S. private equity fund to manage ongoing losses. Earlier, he highlighted Elon Musk’s plan to pursue $20 billion in bond sales after BBB ratings. These developments follow his ongoing commentary on sector trends and fund management.