Unknown Traders Bet $760m On Oil Prices Dropping Minutes Before Hormuz Reopened – The Cradle

 Unknown Traders Bet $760m On Oil Prices Dropping Minutes Before Hormuz Reopened

Repeated, strategically timed trades in oil and prediction markets suggest a rising trend of insider profiteering connected to the war

On 17 April, unknown traders placed roughly $760 million in bets on falling oil prices minutes before Iran announced the reopening of the Strait of Hormuz, raising fresh concerns over high-volume insider trading related to wartime events.

Between 12:24 and 12:25 GMT, traders sold 7,990 lots of Brent crude futures – contracts that reflect predictions on future oil prices – according to LSEG data, with the transactions valued at about $760 million.

Roughly 20 minutes later, Iran’s Foreign Minister Abbas Araghchi announced via social media that “the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire.”

Crude prices dropped by as much as 11 percent within minutes, with US crude falling to around $83 per barrel and Brent to about $89 per barrel, reflecting the immediate impact of the announcement on global energy markets.

Friday’s well-timed bets are not unique; similar large trades have been seen before major US policy and war announcements, such as ceasefire agreements and military escalations.

🔗SOURCE ➡️ The Cradle

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