Futures traders bet on $100 oil price

A further sign of investor bullishness in oil

There was increased trading in $100 oil futures contracts on Tuesday, a further sign that investors are becoming more bullish about the price of oil.

The $100 December 2018 call option, which becomes profitable as soon as the price of oil reaches $100, was the most traded contract across the ICE Brent market on Tuesday, Bloomberg report.  Although this is not an accurate representation of overall market sentiment, it does highlight the fact investors are becoming increasingly confident in the Organisation of the Petroleum Exporting Countries' (OPEC) ability to control production. "That's a relatively cheap lottery ticket. It is clearly not the consensus in the market that we are going to see a return to those prices any time soon, ...