LONDON: The fastest-growing bet in the oil market these days is that the price of crude will double to US$200 a barrel by the end of the year.
Options to buy oil for US$200 on the New York Mercantile Exchange rose 10-fold in the past two months to 5,533 contracts, a record increase for any similar period. The contracts, the cheapest way to speculate in energy markets, appreciated 36% since early December as crude futures reached a record US$100.09 on Jan 3.
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