As Mideast Tensions Soared, Traders Bet On Another Plunge In Oil Prices: Here’s Why

Posted by ZeroHedge

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That wasn’t supposed to happen. In the not so distant past, a dramatic escalation in tensions between OPEC nations (in this case Iran and Saudi Arabia) would have led to a spike in crude oil prices. However, as futures opened Sunday night, the brief rally in oil prices was met with selling pressure and instead of buying calls, traders loaded up on $30 puts. The oil market’s different this time – here’s why

That the rally this time couldn’t be sustained…

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