Oil traders eye $200 per barrel this month: report
Oil traders believe the ongoing Russian-Ukraine war and its international fallout could drive up prices this month, with some optimistic traders eyeing a price over $200 per barrel.
On Monday, prices to buy call options increased, including at least 200 traded contracts to buy May contracts for Brent futures at $200 a barrel by the end of the month, Bloomberg reported. June Brent contracts also increased as a $150-a-barrel call option doubled just ahead of the weekend and a $180-a-barrel option jumped 110 percent, according to the report.
Gold briefly crosses $2,000 mark
- Spot gold was up 0.59% to $1,980.07 per ounce, shortly after 10 a.m. ET, after briefly hitting its highest price since Aug. 19, 2020.
- Palladium was down 2.47% at $2,928.09 per ounce, after hitting an all-time high of more than $3,440 earlier in the day.
- U.S. gold futures rose about 1.05% to $1,987.30.
War ‘catastrophic’ for supply…
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