Markets Bet Heavily That Oil Will Move to $200
"Jan. 7 (Bloomberg) -- The fastest-growing bet in the oil market these days is that the price of crude will double to $200 a barrel by the end of the year.
Options to buy oil for $200 on the New York Mercantile Exchange rose 10-fold in the past two months to 5,533 contracts, a record increase for any similar period. The contracts, the cheapest way to speculate in energy markets, appreciated 36 percent since early December as crude futures reached a record $100.09 on Jan. 3."
What do they know that we don't?
Options to buy oil for $200 on the New York Mercantile Exchange rose 10-fold in the past two months to 5,533 contracts, a record increase for any similar period. The contracts, the cheapest way to speculate in energy markets, appreciated 36 percent since early December as crude futures reached a record $100.09 on Jan. 3."
What do they know that we don't?
posted by nolocontendere at 6:27 AM
3 Comments:
They know that peak oil is here...
That's one helluva price rise though - 100% in under a year.
wow. sure glad we took over Iraq to get all that cheap crude!!!
Post a Comment
<< Home