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Andurand's Oil Hedge Fund Said to Slide 17 Percent Through May

  • Noted hedge fund liquidated final bullish positions in April
  • Brent crude prices fell sharply in late May after OPEC meeting
Emissions rise from an oil refinery at sunset in Texas City, Texas, U.S., on Thursday, Feb. 16, 2017. Asia's energy importers will benefit from more opportunities for arbitrage, supply diversification if U.S. President Donald Trump's pro-energy policies drive meaningful upsurge in U.S. crude, LNG exports, BMI Research reports.
Photographer: Luke Sharrett/Bloomberg
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Pierre Andurand’s oil hedge fund lost 17.3 percent in the year through May as one of the world’s most prominent energy bulls suffered in the wake of last month’s OPEC meeting, according to a document outlining the fund’s performance.

London-based Andurand Capital Management LLP deepened its annual losses despite having sold its last bullish -- or long -- positions at the end of April, when the fund was already down 15.4 percent.