Oil is in an early bull run despite the notion prices have rebounded too fast, too soon, hedge fund manager Jonathan Goldberg says as his energy-focused investment fund posts a 9 percent gain in the first quarter of this year. "Yes, the market is not as short as it was when prices were $26 (a barrel)," Goldberg, manager of the energy-focused $550 million BBL Commodities Value Fund in New York, told investors in a quarterly letter seen by Reuters on Monday. "But we think the attention around the short-covering in the oil market may be overstated," the former Goldman Sachs trader wrote. Goldberg is one of the better performers among energy hedge fund managers this year.