Bets on oil prices moving up from here are at their highest level since Russia's 2022 invasion of Ukraine, CME options market volatility data shows.
Average daily volumes in energy options of the CME exchange overall are the highest since an all-time record in 2018.
"The aftermath of the attacks and rising Middle East tensions did not impact oil prices as many investors expected, including ourselves," Unigestion multi-asset portfolio manager Sandrine Perret said.
Reuters Graphics3/ DEFENCE STOCKSA gauge of defence stocks compiled by index provider MarketVector (.MVDEF) is 8% higher in the four weeks since the conflict began.
It's also near eight-year highs versus the euro and therefore another asset class attracting questions about how it would perform if Middle East tensions are resolved.
Persons:
Abdel Hadi Ramahi, Israel, Sandrine Perret, Derek Sammann, Gold, Jeff, Mikhail Zverev, Ron Temple, It's, Francesca Fornasari, Fornasari, Elisa Belgacem, Brent, Naomi Rovnick, Marc Jones, Dhara Ranasinghe, David Evans
Organizations:
United Arab Emirates, REUTERS, U.S White, Aegon, Reuters, Global, Defence, Lazard Asset Management, Swiss, Insight Investment, Generali Investments, Thomson
Locations:
Dubai, United Arab, Hamas, Israel, Gaza, Ukraine, Jordan, Egypt, China, Taiwan, Europe