OPEC’s plans to boost output have spooked oil market bulls, who are starting to seek protection at levels well below
The current futures price in case the group delivers a rapid increase in production.
Volatility – a gauge of demand for a particular option ,
has risen sharply for bearish sell options at around $67 a barrel that expire immediately after OPEC’s meeting with its partners that will run from June 22-23.
Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by 1 million barrels a day, sources said last week,
weeks after U.S. President Donald Trump complained about artificially high prices.
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