News Snapshot:
Andurand’s fund notched one of its best months ever in July, and other hedge funds have returned to the market, helping boost participation. Still, caution remains. Renewed concerns about China’s economy and US monetary policy have hindered crude’s rally. Banks including Goldman Sachs – which late last year forecasted prices shooting to $US100 or higher – maintained their more tempered forecasts. And lingering memories of the first half’s losses may soften funds’ conviction. For now, there is evidence of the market tightening – in ways it failed to in the first half. Saudi Arabia and Russia prolonged their supply curbs...
