WTI & Brent Options Market Update: Conflict Premium, Resolution Probabilities & Hidden Risks
Oil Markets:
Repricing Risk, Not Removing It
Prices pulled back. Risk didn’t.
Near-term premium fell.
Summer risk increased.
Volatility declined.
Call skew rose.
That’s the signal.
Near-term: geopolitics
Next: macro
This isn’t normalization.
It’s transition.
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