Traders Betting on $200 per Barrel Oil in March

As the Russia–Ukraine conflict continues to rattle global markets, some traders are betting on crude oil prices going over $200 per barrel this month suggesting relief, in terms of fuel and related costs, is still far off.

The prices of call option contracts for higher crude oil prices rose on Monday according to an analysis of ICE Futures Europe data by Bloomberg. Roughly 200 options contracts were traded on March 7 for May Brent futures at $200 a barrel.