They havn't hedged anymore oil, since there is no point, you really think if it even goes to $200 it'll stay there long, all the world's economies will stop.
Dixon knows GWB leaves in the Sept, so there is really only two months of potential oil ramp to go, it may even crash soon now since the hedge funds are really itchy to short oil since they will make more money quicker on the downside now
200 oil already factored in, page-6
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