Commodities
Fund Bets Brent Oil Will Rise Toward $100 as Risk Premium Grows
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One fund is taking on a cheap long-shot bet that Brent crude will climb toward $100 a barrel amid revived tensions in the Middle East, even as industrywide pessimism saw banks across Wall Street revising price forecasts lower.
Options equivalent to 20 million barrels that would profit if Brent’s June contract rallies toward $100 traded on Monday, according to data compiled by Bloomberg.