Devika Krishna Kumar and Alex Longley Tue, April 16, 2024 at 12:05 PM CDT·1 min read 12 1 / 2 Oil Traders Wager on $250 Price by June as War Risk Escalates (Bloomberg) -- Oil traders piled into more than 3 million barrels worth of options contracts in a bet that prices would spike to $250 a barrel by June as geopolitical risks remain elevated. Most Read from Bloomberg Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding Tesla Asks Investors to Approve Musk’s $56 Billion Pay Again China Tells Iran Cooperation Will Last After Attack on Israel What If Fed Rate Hikes Are Actually Sparking US Economic Boom? Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs About 3,000 lots of June $250 call options in US crude traded for a penny each on Tuesday, according to data compiled by Bloomberg. It was likely a “lottery ticket” that might pay off if prices spike to unheard of levels by the middle of next month, although the trade appeared to be paired with $25 put options, which could also signal a broader macroeconomic strategy, some traders and brokers said. Volumes of bullish oil options have skyrocketed to a record, driving the premium for calls over puts jumped this week to the highest since October, as Israel vows to retaliate following Iran’s missile and drone attacks over the weekend. US crude futures have rallied above $85 and Brent is trading near $90 as worries that the conflict will widen are heightened by a backdrop of tight supplies and robust demand.
$125 oil, $7 gas in Calif, recession just in time for the election. China needs cheap oil, so Biden's on a leash.
Crude started going up HARD at approx 7:00pm Interesting NQ, ES and the Dow started around the same time going south.
250 oil??? Please please let me see 250 oil so I can short it all the way to 57 a barrel after a mega world wide recession unfolds. .if we get oil to 250 inflation would rage on and stocks would crater by at least 30% so no way would oil even get that close. If it did it would be highly unsustainable...meaning the slowdown in all economies would hamper any ability of oil actually trading at 250....
You believe in 250 oil?? You actually believe 250 is a possibility? And if it does so happen it will collapse as no way would 250 a barrel be sustainable in any world economy.
And 250 oil would weaken all major equities....gas near me just went up nearly 20 cents a gallon in the last week.
%% LOL\barchart.com has the oil volume month @26% buy\ so 74% sell. Gas near me [NOT CA] holding @3.049\MUR\ BP usually the goofy hi bid + lower stock price LOL $3.199\to many 9's.... True long term\ too extreme oil prices would hurt some stock markets, not my 4 cylinder TM\ LOL Cruize control uses less gas\2