Key Takeaways
- • Paul Tudor Jones said oil could rally another $20 to $25 in the near term, according to CNBC.
- • His outlook rests on the U.S.-Iran conflict, which he expects to remain unresolved ahead of the November midterm elections.
- • Jones linked a successful oil rally to the outlook for the equity market.
Summary
Legendary investor Paul Tudor Jones said he is bullish on oil and believes crude prices could climb another $20 to $25 in the near term, according to CNBC. He based the view on the continuing U.S.-Iran conflict, which he does not expect to be resolved before the U.S. midterm elections in November.
Jones also connected an oil rally to broader markets, saying the equity market would respond to such a move. The available coverage of his remarks is limited, so the specific magnitude of his equity market view should be confirmed against CNBC's full interview.
Jones also connected an oil rally to broader markets, saying the equity market would respond to such a move. The available coverage of his remarks is limited, so the specific magnitude of his equity market view should be confirmed against CNBC's full interview.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.