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Hedge fund manager Andurand sees $50 Brent crude by year-end
May 14, 2015 / 1:08 PM / 3 years ago

Hedge fund manager Andurand sees $50 Brent crude by year-end

(Reuters) - Oil-focused hedge fund manager Pierre Andurand said on Thursday he expects benchmark Brent crude to be trading at around $50 (£31.65) a barrel by year-end due to market volatility.

“I don’t think the market is ready to see $80 to $90 oil in the short time,” the manager of the $450 million London-based Andurand Capital told Reuters ahead of a speech he was to make at an industry conference in New York on the direction of oil.

Brent was almost flat at $66.80 a barrel at 8:52 a.m. EDT (1252 GMT), having risen from a near six-year low of $45.19 in January.

Reporting by Barani Krishnan; Editing by Jeffrey Benkoe

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