Traders placed more than $500 million in oil bets minutes before Donald Trump announced a delay to planned strikes on Iran, data shows, shortly before prices plunged.
Traders placed large bets on crude futures shortly before Trump said the U.S. would delay attacks on Iran’s energy infrastructure by five days, exchange data and Reuters calculations showed.
Trump had warned Iran to reopen the Strait of Hormuz by Monday or face its power plants being “obliterated”. However, his post on Truth Social at 1105 GMT signalled ongoing talks between Washington and Tehran, triggering a sharp sell-off in oil and gas markets.
Brent crude fell by as much as 15% within minutes, as investors priced in a potential de-escalation that could restore disrupted Gulf oil supplies.
Data from London Stock Exchange Group (LSEG) showed that between 1049 and 1050 GMT, traders exchanged 5,100 lots of Brent and WTI crude futures, worth over $500 million. Selling dominated the trades, though the identities of those involved remain unclear.
Trading activity surged further after Trump’s announcement, with more than 13,000 lots - equivalent to 13 million barrels of oil - changing hands in 60 seconds.
Prices dropped sharply, with Brent falling to about $99 a barrel from $112, while WTI declined to $86 from around $99.
Neither Intercontinental Exchange nor CME Group immediately responded to requests for comment. The U.S. Securities and Exchange Commission declined to comment, and the White House also did not respond.
Despite the fall, oil prices remain more than 40% above pre-conflict levels, with about a fifth of global supply disrupted by the Middle East war. Brent was trading just below $104, amid continued uncertainty and Iran’s denial of any negotiations with the U.S.
An unknown projectile struck a tanker 68 nautical miles northeast of Saudi Arabia on Friday according to a report released by the United Kingdom Ma...
Russian strikes on Ukraine’s energy and water systems, combined with damaged homes and rising living costs, could force more people to flee t...
The AnewZ documentary “Counterpoint: Two Centuries of German-Azerbaijani Shared History” investigates the story of German settlers who ...
The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It comes after a deadly Houthi strike on Riyadh's King Khalid International Airport killed at least 13 people last week.
U.S. President Donald Trump has called it “a disgrace” that Ukraine has resumed attacks on Russian oil refineries. Attacks are continuing from Russia and Ukraine as media reports say Ukraine has almost run out of Patriot interceptor missiles.
An unknown projectile struck a tanker 68 nautical miles northeast of Saudi Arabia on Friday according to a report released by the United Kingdom Maritime Trade Operations (UKMTO) on Saturday.
Nationwide protests are set to begin in France on Saturday with students, trade unionists and remnants of the Yellow Vest movement expected to demonstrate against rising living costs amongst others.
Romanian rescuers resumed their search for seven missing sailors on Friday (16 October) after a drone strike set a chemical tanker ablaze near the country’s Black Sea coast. The attacks have raised fresh security concerns along a vital regional trade route.
Uzbekistan welcomed 10.3 million foreign tourists in the first nine months of 2026, up 20.4 per cent year-on-year, as the Central Asian nation pushes towards its ambitious goal of attracting 20 million visitors annually by 2030.
In an interview with AnewZ’s Sabir Safarov, Houthi-aligned journalist Hussain al-Bukhaiti warns of possible attacks on Saudi Arabia’s water and power infrastructure, dismisses concerns over global trade and acknowledges Iranian assistance in developing the group’s missiles.
Armenia is looking to turn shared environmental challenges into opportunities for regional cooperation, with Prime Minister Nikol Pashinyan highlighting the potential for stronger ties with neighbouring countries through biodiversity protection.
Student organisations, opposition groups and youth-led activists took to the streets in Patna and Mumbai on Friday (16 October), demanding the resignation of India's Chief Election Commissioner, Gyanesh Kumar, amid a row over changes to voter lists.
The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It comes after a deadly Houthi strike on Riyadh's King Khalid International Airport killed at least 13 people last week.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment