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Oil traders are pouring their money into a market that isn't moving

Open interest in oil futures contracts has risen to the highest level since March 2022, even though prices are stuck in a narrow range.

China
Red-sea
Djibouti-general
Djibouti
Vicki-hollub
Oil-associates
Bloomberg
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Oil-futures
Oil-derivatives
Brent-crude
Bloomberg

Oil traders are piling into a market that's not going anywhere

So far this year, the equivalent of about 660m barrels of oil derivatives have been added, despite crude prices being firmly stuck in a $10-a-barrel trading band.

China
Red-sea
Djibouti-general
Djibouti
Russia
Russian
Chinese
Scott-shelton
Tamas-varga
Oil-associates
Gunvor-group
Bloomberg

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