mo4ch:>Legendary oil trader expects crude prices to rebound | Mo4ch News
Just two months ago, fears of plunging Iranian supply had the oil market and analysts wondering how high prices could go and if we are about to see $100 oil again.Just a few weeks later, no one’s talking about $100 anymore, and oil analysts and traders are trying to guesstimate if oil prices will rebound from the current lows, after the sell-off in recent weeks wiped out this year’s gains.Many analysts see room for recovery, factoring in expectations that OPEC will announce a sizeable cut in early December to lift Brent Crude prices out of the low $60s into the $70s.Also on rt.comTrump praises Saudi Arabia for lowering oil prices, urges cheaper crudeOne of the analysts expecting an OPEC-assisted rebound in prices is legendary oil trader Andy Hall, who was nicknamed ‘God’ for profitably predicting oil prices.“The balance of risk at this point favors some sort of recovery,” Hall said in a recent interview with Bloomberg. “It’s quite likely OPEC will come through with some sort of cut in…