French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse.
Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the deadly Covid-19 outbreak could represent a rare “black swan” event that would send prices into reverse.
Pierre Andurand’s correct call on the oil price sent the value of his fund sky-high. PIERRE ANDURAND / ANDURAND CAPITAL/AFP/- West Texas Intermediate crude hit a historic low of minus $40.32 per barrel on April 20 as sellers were forced to pay to offload the May contract amid scarce storage capacity.London’s Brent North Sea oil dived to a record-low $15.98 on April 22 but did not turn negative.
The business newspaper also noted his luxury London townhouse in plush Knightsbridge and his flash Bugatti supercar. Andurand added that he then realised there was a “strong probability of containment measures” that would likely slam the brakes on global oil demand – and spark a chain reaction that would tank the market.
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