Oil prices continue to fall amid deepening "supply glut" woes, with market betting that Brent crude will drop below $60 per barrel by the end of the year.

Wisdom Financial App learned that in the past few days, a series of options trading bets on the international crude oil price benchmark Brent crude oil price falling below $60 per barrel this year have been frequently changing hands, highlighting that investors are actively hedging against the risk of a sharp drop in oil prices caused by OPEC and its allies (OPEC+) again significantly increasing production. The current hottest options trading data shows that traders are betting that Brent crude oil will soon fall below the significant $60 mark.