Skittish Oil Market Enters an Uneasy Calm Over Middle East Risk
- Options trading has ballooned this week on Iran-Israel angst
- Futures prices surged on Iranian, Israeli strikes then faded
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At no stage this week did crude futures trade higher than where they were last Friday, before Iran’s attack on Israel.
And while prices jumped again this Friday after reports that Israel had struck back, futures ultimately turned lower to close little changed. It’s a sign that — for now at least — traders are betting regional tensions won’t morph into a conflict that ruptures global oil supplies anytime soon.