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BREAKING: Traders placed a series of bets worth $430 million on a drop in crude prices just 15 minutes before U.S. President Donald Trump said he would extend a ceasefire with Iran.
It is the third time this month, and the fourth in total, that large, well-timed directional bets on the oil price have been made shortly before major announcements on the Iran war.
The traders gained millions.
Unusual.
Traders made a huge bet against oil prices just 15 minutes before President Donald Trump announced on Tuesday that the US-Iran ceasefire would be extended.
LSEG data shows that 4,260 sell orders worth about $430 million hit Brent crude futures between 19:54 and 19:56 GMT, during relatively quiet trading after settlement.
Brent slipped from $100.91 to $100.66 a barrel in those two minutes, then dropped much more sharply to $96.83 after Trump's announcement.
This was the third big directional oil trade of the month, and the fourth overall, placed shortly before major news related to the Iran conflict. So far, similar bets in April have totaled about $2.1 billion, on top of a $500 million trade in March.
US authorities are investigating several of these suspiciously well-timed oil futures trades made ahead of Trump's Iran policy announcements.
The White House is completely silent as BBC confirms a consistent pattern of massive financial spikes occurring just minutes before Donald Trump makes market moving announcements. The administration is facing severe allegations of illegally profiteering off inside knowledge.
On Monday the Trump admin will launch the tariff refund system for the $166 billion in tariffs they illegally collected.
And all of that money will go to companies.
56,497 importers are set to get refunds so far, with no requirement they pass that money along to customers.