Oil Options Trading Surges After Funds Buy Into OPEC's Rebalancing
- Brent, WTI option volumes hit multi-month highs on Monday
- Funds seen drawn by tightening oil market, Mideast tensions
OPEC's Barkindo Says Oil Rebalancing Is Finally in Sight
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Options trading for crude oil this week jumped to the highest in five months as money managers backed OPEC’s effort to rebalance the oil market and as regional tensions flared in the Middle East.
Nearly 440,000 options contracts for West Texas Intermediate crude changed hands on Monday, the most since May, as so-called macro funds, which invest in a range of assets, joined a recent surge of money into the oil market.