Skip to content

Oil Traders Bet Prices Will Pass $200 a Barrel This Month

  • Prices for Brent crude call options surge on rising futures
  • Traders assessing potential for Russian supply to be cut off
Updated on

Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures surpass $200 before the end of March.

Prices to buy call options at higher prices surged Monday as the market assessed the possibility of a supply cut-off from Russia, one of the world’s biggest exporters. More than 1,200 contracts for the option to buy May Brent futures at $200 a barrel traded on Monday, according to ICE Futures Europe data. The options expire March 28, three days before the contract settles. The price to buy them jumped 152% to $2.39 a barrel.