Analysts were split on whether crude-oil supplies rose or fell last week.I am hopeful.
Wednesday, June 20, 2007
Brent is over 72 $ per barrel but my out-of-the-money put option's price is going up. Maybe I am not the only speculator that knows that crude-oil market often follows gasoline during the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September. My option pays the difference between price and 70$ on November 11th. The fact is that the oil market is opaque, no one seems to know how much oil is being offered and how much is demanded. Bloomberg: