Options Bets on Crude Could Pull Prices Higher

By Matt Chambers

Word Count: 359

The wagering over $100 oil has begun in earnest.

Oil prices, which rose briefly above $90 a barrel Friday, are more likely to head toward $100 than $80 in the next month, according to the number of bets placed by options traders on the New York Mercantile Exchange.

The large number of options held to buy crude at $100 a barrel could also act as a pull on prices toward that level.

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