Traders reportedly placed bets amounting to more than $500 million in the oil market minutes before a significant post by President Donald Trump concerning “productive” Iran talks.
Approximately 6,200 Brent and West Texas Intermediate (WTI) futures contracts were traded between 6.49 am and 6.50 am New York time on Monday, just 15 minutes before Trump’s post on Truth Social. These trades had a notional value of $580 million, as per calculations by the Financial Times.
Trading volumes for Brent and WTI surged at the same time, 27 seconds before 6.50 am. S&P 500 futures also saw a price jump shortly after the oil trade, with trading volumes significantly increasing during that period. The entities behind these well-timed trades remain unknown.
These trades mirror the recent pattern of large, profitable bets on prediction market Polymarket regarding the timing of U.S. attacks on Iran and Venezuela. Some traders have expressed frustration over these unusually timed large trades. One portfolio manager described the situation as “really abnormal,” adding, “Somebody just got a lot richer,” according to the publication.
The U.S. Securities and Exchange Commission and CME Group did not immediately respond to Benzinga’s request for comments.
Iran Calls It Market Manipulation
Trump initially threatened to “obliterate” Iran’s power plants …
This post was originally published here
