Oil Traders Flock to Bets Ahead of Trump's Post on Iran Attack Delay
Traders placed massive bets on oil prices just before US President Donald Trump announced a five-day delay to attacks on Iran's energy infrastructure. According to exchange data and Reuters calculations, traders bet $500 million on Brent crude futures in just 15 minutes between 10:49 and 11:00 GMT.
The sudden change in sentiment came after Trump posted a message on Truth Social at 1105 GMT indicating constructive talks between Washington and Tehran were ongoing. This led to a powerful selloff in oil and natural gas, with Brent crude falling as much as 15% in minutes.
Between 1049 and 1050 GMT, traders placed bets on 5,100 lots of Brent and WTI crude futures, worth over $500 million. The data shows that selling dominated volumes in the minute those contracts changed hands.
The Intercontinental Exchange and CME Group did not immediately respond to Reuters' requests for comment, nor did the US Securities and Exchange Commission or the White House.