原油市场风向生变！伊朗风险引爆“上行保险”抢购潮，布油看涨期权交易量创纪录

Core Viewpoint - The oil futures market is experiencing unprecedented demand for hedging tools due to escalating concerns over domestic protests in Iran and potential military actions by the U.S., leading to a surge in call option trading volumes and implied volatility [1][4][5]. Group 1: Market Reactions - Call option trading volumes for Brent crude oil surged to a record high, with over 556,000 contracts traded in a single day, indicating a strong demand for upward price protection [1][4]. - The implied volatility and premiums for call options have risen to their highest levels since June of the previous year, reflecting increased market anxiety over potential supply disruptions [1][4]. - Brent crude oil prices have increased by over 6% since last Wednesday, driven by fears of supply threats from Iran amid ongoing protests and potential U.S. military actions [4][7]. Group 2: Geopolitical Factors - The Iranian government claims to have quelled protests, but unrest appears to persist, raising concerns about the stability of oil supply [5][7]. - U.S. President Trump is reportedly inclined to initiate a new round of strikes against Iran, further complicating the geopolitical landscape and impacting oil prices [5][7]. - The potential for a 25% tariff on goods from countries doing business with Iran has also contributed to rising oil prices, as it may affect major buyers like China [7][8]. Group 3: Supply Dynamics - Iran's oil exports, which account for approximately 2% of global demand, face significant risks of interruption, alleviating previous concerns about a global oversupply of oil [7][8]. - A major Iranian export terminal has seen a reduction in oil inventory by about 20% since the beginning of the year, suggesting either a strategic move to avoid losses or damage to energy infrastructure due to protests [10].