Traders pile into $80 US oil bets as tensions rise in Middle East
Government
Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict. Call options grant the holder a right to buy futures contract at the preset price and date, and a rise in volumes can help gauge market sentiment. About 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded on Friday on a total trading volume of 681,000
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