Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures will rise above $200 before the end of March.
RIYADH: Oil could rise to over $200 before the end of March as the risk of a cutoff from Russian supplies looms, Bloomberg reported some traders warning. The prices of crude options are increasing, with at least 200 contracts traded for the option to buy May Brent at $200 a barrel, according to ICE Futures Europe data. The June Brent $150 a barrel call option has doubled on