Big bets on oil prices soaring turn worthless as Iran risk fades

Quick Summary:

Crude prices plunged on Oct 28 after Israel’s strike against Iran avoided energy facilities.

Oil’s slump on Oct 28 comes ahead of a crucial few weeks for prices, with a host of influential events looming, including the US election.

Almost 22 million barrels of US$75 calls were worth about US$35 million on Oct 25, while nearly 53 million barrels worth of US$80 calls were worth about US$22 million at that time.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIsrael

Topics: Prices Worth Brent Million Energy Options Cent Traders Crude Barrels Month

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 09:10:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 552 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23314648

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

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Year Established: 1845

Headquarters: Singapore

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Publisher ID: #25

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