Oil-Price Swoon Spurs Traders to Bet on Further Declines

Bets that oil investors made in options markets help explain why crude prices fell so sharply on Monday, and also show that traders are bracing for prices to lurch lower once more

U.S. crude prices swooned in tandem with stocks and other industrial commodities to start the week after the spread of the coronavirus in the global economic rebound. West Texas Intermediate futures failed to recover on Tuesday, holding prices about 14% below their recent high at $66.

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