Oil Options Volatility Lowest in 2 Weeks, Futures Advance

Bloomberg reported that crude oil options declined to a 2-week low at 20.58% as futures advanced on better-than-expected US jobless claims.

As quoted in the market news:

West Texas Intermediate oil for June delivery advanced $2.21 to $93.64 a barrel on the Nymex, a sixth consecutive gain, after applications for jobless benefits slid to 339,000, the Labor Department reported. That was the lowest level since March 9. Economists surveyed by Bloomberg predicted 350,000 claims.

Click here to read the full Bloomberg report.