L2 Capital

In today's episode, Marcelo López spoke with Mark Gordon, CIO of the Ascent Oil Fund. Before taking his current position, Mark worked for companies such as Goldman Sachs, Soros Fund Management and Janus Henderson, where he focused on investments linked to the energy sector. Mark explains that the Ascent Oil Fund was formed under the view that there will be a migration in the oil market’s perception from abundance to scarcity, which will cause shares of companies in the sector to rise substantially. In the context of recent tensions involving the US and Iran, Gordon explains how conflicts in the Middle East may or may not impact oil prices, depending on the factors involved. From a historical perspective, Mark discusses the role that perception and sentiment, regarding oil scarcity or abundance, plays on prices and market performance. He also lists the reasons why he believes we are in a transition period in regards to this sentiment. Gordon still contrasts the inventory and sentiment factors from the point of