Crude Oil Options Advance With Futures on Budget Optimism

Crude oil options volatility rose with the underlying futures on optimism lawmakers will reach a last-minute budget deal that would protect all but top earners from a tax increase that threatens economic growth.

Implied volatility for at-the-money options expiring in February, a measure of expected price swings in futures and a gauge of options price, was 26.18 percent at 2:05 p.m. on the New York Mercantile Exchange, up from 25.46 on Dec. 28.