Bullish Oil Options Wagers Surge as Trump Ramps Up Sanctions
Traders have been snapping up bullish oil options to hedge against the risk that US sanctions will cause prices to spike.
About 231,000 Brent calls traded on Monday — the most since Jan. 10, the day the Biden Administration put sweeping sanctions on Russia’s oil industry. The latest surge comes as President Trump ramps up pressure on Iranian and Venezuelan oil exports with measures designed to disrupt and deter purchases from the two nations.