HeatOil/USD

Oil fell below $70 as the physical market for crude signaled that supplies are more than adequate to meet tepid demand. West Texas Intermediate’s June-July cash roll, which reflects crude supply balances at Cushing, Oklahoma, dropped to a discount of 30 cents a barrel, indicating lower demand for barrels being delivered in June than in July. Stockpiles at ...

This year's slide in oil has been painful to commodity bulls, and none more so than famed oil hedge fund manager Pierre Andurand whose already bad year is getting worse. Bloomberg reports that after dropping another 9.4% in May, his main Andurand Commodities Discretionary Enhanced Fund has extended this year’s slump to almost 46%, making this the worst-ever ...