Monday, January 07, 2008

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?

3 Comments:

Blogger Undeniable Liberal said...

They know that peak oil is here...

7/1/08 3:31 PM  
Blogger nolocontendere said...

That's one helluva price rise though - 100% in under a year.

7/1/08 4:38 PM  
Blogger spooked said...

wow. sure glad we took over Iraq to get all that cheap crude!!!

8/1/08 6:16 AM  

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