7 Jun, 2021

Options traders betting on $100 per barrel oil

If oil does hit $100/barrel that will not be good for short-term inflationary pressures we’re already seeing.

Owners of $100 options—now the most widely owned WTI call contracts on the New York Mercantile Exchange—are making a leveraged bet that oil prices will hurtle higher after already surging more than 40% this year. The roaring rally, goosed by thawing coronavirus restrictions, has lifted WTI prices to their highest level since 2018 at almost $70 a barrel and average U.S. gasoline prices above $3 a gallon, according to GasBuddy.

Wall Street Journal

About : Kevin Bae

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