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Market
Oil prices compared to June 4, 2024 levels by December 31
5
Resolution / Starting Odds
Higher than June 4, 2024 levels • 33%
Lower than June 4, 2024 levels • 33%
Same as June 4, 2024 levels • 33%
Publicly available oil price indices (e.g., Bloomberg, Reuters)
Story
U.S. Lawmakers Urge DOJ to Investigate OPEC Oil Price Fixing, Antitrust Concerns
Jun 4, 2024, 06:05 PM
A group of U.S. lawmakers is urging the Department of Justice (DOJ) to investigate potential price fixing and antitrust conspiracies in the oil and gas market. The call for investigation follows evidence uncovered by the Federal Trade Commission (FTC) suggesting possible collusion among U.S. oil producers, OPEC, and OPEC+. Senate Majority Leader Chuck Schumer emphasized the need for the DOJ to act, stating that the American people deserve to know if Big Oil executives are conspiring to illegally raise prices at the pump. The investigation is being closely watched by market participants, including those following the #OOTT and $USO.
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Increase by 10-20% • 25%
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Decrease or no significant change • 25%
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Prices increase • 25%
Decrease by more than 5% • 25%
Change between -5% and 5% • 25%
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Below 400 million barrels • 25%
400-450 million barrels • 25%
450-500 million barrels • 25%
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Stocks rise significantly • 25%
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Oil outperforms gold • 33%
Gold outperforms oil • 33%
Both perform similarly • 34%
Increase in Oil Prices • 33%
Decrease in Oil Prices • 33%
No Significant Change • 34%
Stock price higher than June 2024 level • 33%
Stock price lower than June 2024 level • 33%
Stock price approximately the same as June 2024 level • 33%