# Oil Bets Are Most Bullish in Two Years as Mideast Tension Flares - Bloomberg

> Oil futures posted their largest weekly gain in more than a year, and options activity was even stronger. Traders were positioning for a possible sharp price spike as Mideast tensions escalated.

- Date: 2024-10-06 · published 2024-10-06T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/10026-oil-bets-are-most-bullish-in-two-years-as-mideast-tension-flares-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Heavy bullish speculation in futures and options amplifies price swings and signals expectations of higher energy costs ahead.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-10-06 | 5 | +9.8% | 3.2 | Record bullish options and futures positioning amplified the weekly rally as traders priced a possible spike. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-01 | [Traders Pay Most in Years to Bet Oil Prices Will Rise Even More - Bloomberg](https://feedsoft.ai/events/12841-traders-pay-most-in-years-to-bet-oil-prices-will-rise-even-more-bloomberg.md) | +24.3% | +11.5% |
| WTI | 2018-04-15 | [Bullish forecast for oil prices as Middle East tensions rise](https://feedsoft.ai/events/65725-bullish-forecast-for-oil-prices-as-middle-east-tensions-rise.md) | +1.4% | +4.9% |
| WTI | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | -1.5% | +5.6% |
| WTI | 2025-06-13 | [Traders pile into $80 US oil bets as tensions rise in Middle East](https://feedsoft.ai/events/11154-traders-pile-into-80-us-oil-bets-as-tensions-rise-in-middle-east.md) | +10.2% | +1.1% |
| WTI | 2019-05-27 | [Oil up more than 1% on Mideast tensions and supply cuts](https://feedsoft.ai/events/59236-oil-up-more-than-1-on-mideast-tensions-and-supply-cuts.md) | -8.5% | -1.9% |
| BRENT | 2022-03-01 | [Traders Pay Most in Years to Bet Oil Prices Will Rise Even More - Bloomberg](https://feedsoft.ai/events/12841-traders-pay-most-in-years-to-bet-oil-prices-will-rise-even-more-bloomberg.md) | +23.6% | +11.2% |
| BRENT | 2018-04-15 | [Bullish forecast for oil prices as Middle East tensions rise](https://feedsoft.ai/events/65725-bullish-forecast-for-oil-prices-as-middle-east-tensions-rise.md) | +2.0% | +6.0% |
| BRENT | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | +7.5% | +9.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-10-06/oil-bets-are-most-bullish-in-two-years-as-mideast-tension-flares

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.