Traders Place 950 Million Bet on Oil Before Ceasefire
Traders placed a 950 million dollar wager on falling oil prices hours before a U.S. Iran ceasefire. Crude futures dropped 15 percent to below 100 dollars.
Investors executed a massive $950 million wager on falling oil prices just hours before the United States and Iran announced a surprise ceasefire. This move represents the latest in a series of high-stakes bets placed on the world's most traded commodity immediately preceding major policy shifts from the White House.
Data provided by the LONDON STOCK EXCHANGE GROUP indicates that investors sold a combined 8,600 lots of Brent Crude Oil and U.S. crude futures at 19:45 GMT on Tuesday. Shortly thereafter, at approximately 22:30 GMT, President Donald Trump announced a two-week ceasefire, a move that significantly de-escalated regional tensions. Consequently, crude futures plummeted by approximately 15%, dropping below $100 per barrel at the start of Wednesday's trading session.
