Korean Investors Bet Against Rising Oil Prices Amid $100+ Barrel Threshold

International oil prices have surged to over $100 per barrel, but individual investors in South Korea are betting on a drop in prices. The KODEX WTI crude oil futures bus(H) and Samsung Bloomberg Inverse 2X WTI Crude Oil Futures ETNB have seen tens of billions of won of personal funds flow into them this month.

The KODEX WTI crude oil futures bus(H), which is based on the price of West Texas Intermediate (WTI) futures, has generated profits when WTI prices fall. It ranks 10th in individual net purchases among domestic listed ETFs.

U.S. President Donald Trump has also weighed in on oil prices, predicting that they will continue to rise until the U.S. midterm elections. However, he stated that as soon as the election is over, oil prices will plunge and gasoline prices will fall below $2 a gallon.