Traders Bet Big on Oil Futures Despite A Stagnant Market Despite geopolitical tensions and a tumultuous start to the year, oil traders are increasingly investing in oil derivatives, pushing open interest in oil futures contracts to its highest level since March 2022. This surge, involving about 660 million barrels of oil derivatives, occurs despite crude oil prices remaining within a narrow $10-a-barrel range. The activity reflects not only seasonal trends of portfolio rebalancing but also concerns over political risks, such as the redirection of oil tankers around Africa due to conflicts in the Middle East, economic uncertainties including interest rate outlooks, and the potential for Chinese economic recovery. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed's Daly: Cooling Inflation May Warrant One or Two Rate Cuts in 2024 READ MORE Mortgage Rates Rise in Early 2024, Homebuying Challenges Persist READ MORE What is a Troy Ounce? READ MORE Over $20 Million in Gold Stolen in Canada’s Largest Airport Heist READ MORE Caixin PMI Shows Surge in China Manufacturing, Despite Global Challenges READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment