Traders Betting on Return of Oil Prices to $100 a Barrel

Traders have settled on a one-sided speculation of oil prices going to $100 a barrel.

Source: Wall Street Journal

CL! is up 0.75%

World economies are still recovering from a pandemic and analysts believe oil it’s impossible to get to $100 in the near future.

Oil prices have never reached $100 a barrel since 2014.

This year oil prices have shot to more than 40% as owners of $100 options are making a bet that prices will further go up.

Lifting of lockdowns have escalated WTI prices to the highest since 2018 to almost $70 a barrel.