Following renewed attacks between the US and Iran that affected oil tankers, WTI crude oil closed at $96.05, a more than three-month high; Brent crude oil broke through $100, closing at $101.21.
However, as of September 8, the OVX was only 48.59, less than 40% of the peak of 125.99 on March 12, indicating that while the options market has raised its volatility expectations, it has not replicated the extreme pricing of uncontrolled supply in March.
