June 26 (Reuters) - Hedge fund manager Pierre Andurand is stepping away from crude oil while sticking with an outlook for higher copper and cocoa prices, Bloomberg News reported on Wednesday, citing a letter to investors.
"We will reengage in the oil markets once we obtain greater clarity on the supply side," the letter said, according to the report.
Andurand Capital Management remains bullish on copper and cocoa futures, even as prices for both commodities have retreated from rallies to all-time highs earlier this year, according to the letter in the report.
And, meanwhile, the firm "fully exited" long positions in oil futures prior to a June OPEC+ meeting, with a current "mixed" outlook on the market, the letter said.
Andurand Capital Management did not immediately respond to Reuters request for comment. (Reporting by Tanay Dhumal in Bengaluru; Editing by Alan Barona)
