Oil Bets Are Biggest in 9 Years Amid OPEC, Trump Volatility
- Producer, hedger bets on WTI rise to highest since 2007: CFTC
- Oil traders bought record number of WTI calls on Nov. 15
Oil Amid Populists Politics and a Possible OPEC Deal
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Money managers, producers and consumers made the biggest bets on West Texas Intermediate crude prices in nine years, amid signals more volatility is coming.
Global markets were roiled after Donald Trump’s election as U.S. president and as OPEC continued negotiations on a deal to cap output. The U.S. dollar climbed to the highest since January. A measure of oil volatility surged last week to a seven-month high, a sign that traders were anticipating bigger price swings.