Oil is about to post its fourth week of gains in a row, and the outlook remains bullish thanks to supply constraints and demand strength. But one hedge fund manager is even more bullish than that. Doug King, head of the Merchant Commodity Fund, enjoyed record returns last year, gaining 74 percent in 2021 and beating its previous record of 59 percent set in 2014—another boom year for oil right before the bust.
But now, King is expecting further gains in the price of oil, saying it could even reach $200 per barrel over the next five years.…Could Oil Really Reach $200?
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