Investors sold 7,990 lots of Brent crude oil futures worth about $760 million, roughly 20 minutes before it was announced that the Strait of Hormuz was fully open for commercial vessels.
The announcement triggered an up-to-11% drop in crude prices. This isn't the first time traders made huge oil bets just before a major announcement.
On April 7, about $950 million was sold ahead of news of a two-week US-Iran ceasefire. Then on March 23, another $500 million bet was placed just 15 minutes before President Donald Trump said he would hold off on attacking Iran's energy infrastructure, sending oil prices down 15%.
The US Commodity Futures Trading Commission (CFTC) is investigating the March 23 and April 7 trades, which occurred shortly before major Trump policy announcements on the Iran conflict.
@Cobratate The guy who said he would never sell his audience for a crypto pump n dump, whatever happened to $DADDY anyways? Did you continue burning the supply or what? Or do you just chat 💩 for a living?
@Cobratate Money💴 💵thats all you care about. The money guy. Totally gave up on the 3x KickBoxing World Champion. 💩came out of your bio quicker than getting snuck on the st while reading chat in the middle of NY without security by a we lil helmet mate. Whatever happened with $DADDY ?!?!
Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI.
AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation.
@skumWgmi People who don’t take the time to learn how to make save and invest their wealth do not value their dollars. Im sure this happens more often than not & it’s a dam shame.
My uncle saved $800,000 for retirement.
Lived on nothing for 30 years to do it.
Brown bag lunches.
No Vacations.
Same car for 14 years.
Clipped coupons until the very end.
Died with $800,000 in the bank.
His kids split it.
Spent it in 18 months.
He saved 30 years of living for people who spent it in a year and a half without thinking about him while they did.
@Cobratate When’s the last time you got your ass kicked? When is the last time you cucked out to a foreign government the size of NJ bc you didn’t want to get canceled? When’s the last time you were actually respected?