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.
For decades, Uzbekistan’s cotton industry was primarily associated with the production and harvesting of ...
Leaders from around the world are gathering in New York for the latest session of the United Nations General Assembly, with conflicts in Ukraine an...
Steelmaker ArcelorMittal has it is shutting production at Ukraine's largest steel plant, underscoring the grow...
Saudi Arabia, Türkiye and Pakistan will hold an urgent high-level meeting under a joint defence pact to discuss ways to support the kingdom amid attacks by Yemen's Iran-aligned Houthis. The meeting comes as Tehran seeks to distance itself from the rapid advance of its Houthi allies.
World leaders return to the United Nations headquarters in New York on Friday for the fourth day of the high-level General Debate, with speeches and diplomatic meetings continuing throughout the day.
U.S. President Donald Trump welcomed Chinese President Xi Jinping to the White House on Thursday, 24 September, for talks focused on trade, artificial intelligence, Taiwan and the war with Iran.
Finland and Sweden deployed fighter aircraft on Thursday after a group of Russian military planes was detected over the Gulf of Finland, the Finnish Air Force reported on Friday (25 September).
Fourteen Kazakh military personnel died after being swept out to sea during a naval training exercise in the western Mangistau region, authorities said on Thursday.
For decades, Uzbekistan’s cotton industry was primarily associated with the production and harvesting of raw cotton.
Iran on Saturday awaited a U.S. response to its proposal to reopen the Strait of Hormuz and end fighting in the Middle East war after the Wall Street Journal reported that President Donald Trump had rejected the deal.
President Ilham Aliyev has highlighted Azerbaijan’s security, transport connectivity, economic diversification and renewable energy potential, as he addressed the Second Azerbaijan International Investment Forum in Baku.
Yemen's Saudi-led coalition said early on Saturday it had intercepted two ballistic missiles and two drones launched by the Iran-backed Houthis towards the kingdom.
A developing El Niño in the Pacific could become one of the strongest on record, leading to heavier rainfall and a greater risk of severe flooding in parts of Central Asia, while also worsening extreme weather in other parts of the world.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment