Andy Hall’s trading team at Occidental appears to have turned things around since July, when Occidental’s CEO, Ray Irani, told investors that Phibro accounted for the bulk of its missed earnings.
The star oil trader’s fund, Astenbeck, is currently up around 2% YTD, a source tells us.
It’s been a great year for almost all markets, including energy, so being up 2% obviously isn’t huge.
But back in July, an analyst had said on the company’s earnings call that “Phibro appears to be the bulk of the missed earnings,” to which the CEO replied, “You can’t say trading results were anything but lousy.”
So it’s a comeback.
Neither Occidental nor Phibro wouldn’t comment on the returns.
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