U.S. oil, which has already halved in value over the past year to around $50 a barrel, could sink to $30 as a torrent of supply makes it hard to sustain any rally, hedge fund manager Beau Taylor said on Wednesday. The manager of the Taylor Woods Capital Management fund told an investor conference that the next six to 18 months would frustrate anyone betting on an oil price recovery, adding that he had a “short”, or bearish, position on futures of U.S. West Texas Intermediate crude (WTI). “It just seems like it’s going to be a market that’s going to be very, very difficult to rally in the near term,” Taylor, who manages some $800 million at the Connecticut-based fund, told […]