Crude: The $225/bl bull’s view

Doug King of fund manager and commodity trader RCMA sees far greater upside than down in the oil market

The price of Brent fell below $110/bl for the first time in more than a week on Tuesday as the market digested news of a step-up in lockdowns in China and analysts cut forecasts for the country’s demand. But what if this only short-term relief? Doug King, CEO of fund manager RCMA Capital, owner of Singapore-based commodity trader RCMA Group, laid out the case at late March’s FT Commodities Global Summit for oil prices to reach more than double where they currently sit. “I can easily see $200, $250 this year,” says King, before settling on $225/bl when pressed for an exact prediction on the peak of the market. One factor informing King’s bullish outlook is that he does not believe “a huge amo