Maleeha Bengali is CEO of MB Commodities Capital, based in London.
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The oversupply of crude that's likely to last for a long time in the market makes trading the United States Oil Fund a risky proposition.
Friday is the April expiration for S&P 500 index options -- and that can explain more or less why the market has been so tightly pinned.
QE does not produce growth, it just delays the inevitable problem and kicks the can further down the road. Meantime, we have a curve ball (the Fed) that keeps throwing trillions at the market, buying riskier assets each time.
Are you willing to pay a 20x-plus multiple for European oil majors that do not and cannot grow?
Buying the market here is about pricing the economic recovery and the end of financial damage being priced into these stocks.
This is a big selling opportunity in the European oil majors.