OPEC's Line in the Sand: Oil at $80/barrel + 'Trash Can' Pair Trade

In just over a year oil has seemingly gone from dead end, over supplied commodity (akin to corn), to supply squeezed, one-way hedge fund trade.

Undoubtedly the backdrop has been very constructive, Grizzle's Chris Wood highlighted the opportunity in mid-March when Brent crude was hovering at $66/barrel — we're currently sitting at $77/barrel.