Press Release Summary: First Prime Group believe that the oil price still has a long way to go
Press Release Body: Financial bets on crude oil prices reaching $200 a barrel before the end of this year are steadily increasing according to a source close to First Prime Group. The statement centres on surging sales of call options. These contracts give buyers the right to buy oil at a pre-determined price and with prices since the start of the surge north of $140, First Prime Group are thought to associate this with significantly increased upside potential. With oil prices up some 55% this year, First Prime Group are rumoured to have advised their private clients to continue to hold long positions despite rumours of imminent government intervention in energy markets. First Prime Group pointed to statements from OPEC and Gazprom, the Russian energy giant, who reiterated yesterday that oil prices could surge to $250 as providing momentum to a situation already exacerbated by geo-political events. Although many traders are trivializing the significance of high price call options, others noted that options that, a year ago, were dubbed \"lottery tickets\" are now below today\'s oil price.
2022
