the last 10 years. Investors looking to express a bullish view on Brent crude oil can take advantage of premiums which are close to 10-year lows. IPE Brent Imo Implied Vol - Mid Implied Vol CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 122997 CONFIDENTIAL SDNY_GM_00269181 EFTA01461147