Traders Bet $950 Million on Oil Drop Before Ceasefire
Investors sold $950 million in oil futures Tuesday, hours before President Trump announced a ceasefire with Iran. The move preceded a 15% drop in crude prices.
Investors recently executed an approximately $950 million wager on declining oil prices, occurring just hours before the United States and Iran reached a ceasefire agreement. This substantial trade represents the latest in a series of large-scale bets placed on the world's most actively traded commodity immediately preceding significant policy shifts.
On a recent Tuesday at 19:45 GMT, market participants offloaded a combined 8,600 lots of Brent Crude Oil and U.S. crude futures, according to data from LSEG. Shortly thereafter, at approximately 22:30 GMT, a two-week ceasefire was announced, which subsequently drove crude futures down by roughly 15%, pushing prices below the $100 per barrel mark at the opening of the following trading session.
