As the Russia–Ukraine conflict continues to rattle global markets, some traders are betting on crude oil prices to rise to $200 per barrel or more this month, suggesting that relief, in terms of fuel and related costs, is still far off.
The prices of call option contracts for higher crude oil prices rose on March 7, according to an analysis of ICE Futures Europe data by Bloomberg. Roughly 200 options contracts were traded for May Brent futures at $200 a barrel. The price of these options, which expire on March 28, spiked by 152 percent. The cost of $180 per barrel June Brent call options jumped 110 percent on March 7 compared to March 4, while $150 per barrel call options doubled during this period.
