Chinese demand and macro funds fearing Fed tightening and moving into commodities have driven commodity market momentum, CTA managers say.
Russell Newton, director at London energy, metal and stock fund managers, Global Advisors, says the Chinese appetite for energy and raw materials is creating exploitable oil price distortions around the world.
"In the mid to late 1980s, not a great deal of crude went from Africa to Asia," he says. "Now quite a significant amount does. It reduces availabilit