Traders have settled on a one-sided speculation of oil prices going to $100 a barrel.
Source: Wall Street Journal
CL! is up 0.75%
World economies are still recovering from a pandemic and analysts believe oil it’s impossible to get to $100 in the near future.
Oil prices have never reached $100 a barrel since 2014.
This year oil prices have shot to more than 40% as owners of $100 options are making a bet that prices will further go up.
Lifting of lockdowns have escalated WTI prices to the highest since 2018 to almost $70 a barrel.