Stocks were mixed on Wednesday.
The S&P 500 rose 0.3 percent but earlier in the day, the Nikkei 225 plunged 1.9 percent.
US stocks were boosted by a 3.3 percent jump in US crude oil.
Indeed, the bear market in oil may turn out to be short-lived.
Bloomberg reported that investors this week paid the smallest premium in almost two months to protect against a drop in prices through the end of the year.
Andy Hall told investors in his hedge fund, Astenbeck Capital Management, that “extreme positioning coupled with improving fundamentals should ultimately – and at potentially any time – result in a strong reversal”.