Credit Suisse bets on $25 oil price bottom

Credit Suisse is betting oil prices will bottom out around $25 and plans to boost its holdings of energy shares when it does, according to chief investment officer Michael Strobaek.

“Oil and the energy sector are getting outrageously cheap that it is worth taking big bets” Mr Strobaek told investors in Zurich.

“I’m hopeful and believe oil will hit $25 and then won’t go lower. It’s also a positive catalyst for a full flush-out of oil-related defaults.”