How the Oil Rout’s ‘Endgame’ Might Play Out: A Zugzwang?
Global surplus to ‘slowly evaporate’ in 2016: Minerd
by William Watts
Market Watch
When terms like “oilmageddon” get bandied about, you know investors are feeling mighty beat up by the oil market, whose collapse is seen as a driver of weakness in stocks and a contributor to turmoil across financial markets. But at least one prominent investor is ready to argue that there is some light at the end of the tunnel.
“Today, looking at the market fundamentals in place, I believe we have reached a new point in the global energy story: The endgame in the decline of the price of oil,” wrote Scott Minerd, chief investment officer at Guggenheim, in a market commentary.
Minerd notes the overwhelming pessimism overhanging oil futures, which have plunged around 70% from their mid-2014 high, testing nearly 13-year lows in January.
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Source: http://financialsurvivalnetwork.com/2016/02/how-the-oil-routs-endgame-might-play-out-a-zugzwang/?utm_source=rss&utm_medium=rss&utm_campaign=how-the-oil-routs-endgame-might-play-out-a-zugzwang
