Oil Traders Are Paying the Most in Years to Bet That Prices Will Rise Even More
- Options volatility, call skew surges for Brent crude
- Brent climbs above $106, WTI over $104 after Russia attacks
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Traders are paying the biggest premium in more than two years to bet on higher oil prices as Russia’s invasion of Ukraine extends crude’s relentless rally.
International benchmark Brent surged above $106 a barrel and U.S. crude futures surpassed $104 for the first time since 2014 on concern that sanctions on Russia will curb supply from one of the biggest global producers at a time when inventories across the world are already low.