Crude Oil has been yo-yoing in for the last couple of days presenting spread bettors with plenty of opportunities according to Paddy Power’s new financial spread betting venture, paddypowertrader. The company has seen retail investors develop new strategies to reap the benefits from sharp rises and falls in the price of crude oil early this week.
“After oil hit the heady heights of $147.25 dollars a barrel on July 2008 it looked like the rush for black gold was over. Yet, paddypowertrader has watched the amount of spread bettors starting to move into oil multiply. With this new geopolitically motivated volatility there are again benefits for savvy spread bettors going long on peak oil. This activity has been affected by the price of crude oil, which resumed its rise as fighting between Russia and neighbouring Georgia sparked supply concerns. With oil now at $116.43 per barrel we have seen a 58% increase in the amount of money staked in oil on our books over the past week.” said Davin McAnaney of paddypowertrader.
“Paddypowertrader account holders seem very well informed when it comes to profit taking on international markets. Researching and informing yourself on the market conditions through blogging or online tutorials seems to be among the most popular ways of growing profits in financial spread betting. We have seen a significant 58% increase in the amount of investors going into oil since the beginning of August. Our seminar last month entitled “Is oil holding the world to ransom?” seems to have stimulated retail investors.” concluded McAnaney.
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'Crude Oil Trading Opportunities' by paddypowertrader, updated 22-Aug-08
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