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.
At a time when geopolitical tensions continue to ripple across multiple regions, from Ukraine to the Middle East, ...
At least two people were killed and three others seriously injured on Monday (4 May) after a 33-year-old German ...
Iran warned U.S. forces on Monday not to enter the Strait of Hormuz after President Donald Trump said the United S...
Austria has expelled three diplomats from the Russian Embassy over concerns that satellite installations on diplomatic buildings could be used for ...
Recent developments across the Middle East show political messaging is moving beyond traditional channels, with public art and AI-generated content...
A Russian missile strike killed six people in Ukraine’s Kharkiv region on Monday (4 May), as Kyiv reported fresh attacks on energy infrastructure and a sharp rise in drone strikes on ports.
Australia and Japan agreed on Monday to deepen cooperation on energy and critical minerals, as Japan’s Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese during a three-day visit.
Talks between the U.S. and Iran remain in a delicate state after U.S. President Donald Trump rejected a 14-point proposal conveyed via Pakistan, while simultaneously suggesting that discussions with Tehran have been “positive.”
European allies are stepping up efforts to meet military commitments following criticism from U.S. President Donald Trump, according to NATO Secretary General Mark Rutte.
At least two people were killed and three others seriously injured on Monday (4 May) after a 33-year-old German man allegedly drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
Iran warned U.S. forces on Monday not to enter the Strait of Hormuz after President Donald Trump said the United States would "guide out" ships stranded in the Gulf by the U.S.-Israeli war on Iran.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
At a time when geopolitical tensions continue to ripple across multiple regions, from Ukraine to the Middle East, the South Caucasus once again finds itself at the crossroads of diplomacy and uncertainty.
A court in Sydney is set to review a non-publication order in the case of former Australian SAS soldier Ben Roberts-Smith, who is accused of war crime murder in Afghanistan.
Turkish President Recep Tayyip Erdoğan has urged Iraq’s prime minister-designate to form a government which reflects the country’s religious and ethnic diversity.
Uzbekistan has unveiled a series of major economic and regional initiatives as more than 4,000 delegates from over 100 countries gather in Samarkand for the 59th Annual Meeting of the Asian Development Bank (ADB), held under the theme “Crossroads of Progress.”
Minval Politika has released a third set of footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing the use of artificial intelligence in a project linked to Armenia and ‘Nagorno-Karabakh’.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment