Investing.com — Traders on Monday placed bets worth about $580 million in the oil market approximately 15 minutes before President Donald Trump\u2019s Truth Social post about Iran talks that sent crude prices tumbling, according to a report by the Financial Times.<\/p>\n
Around 6,200 Brent and West Texas Intermediate futures contracts changed hands between 6:49 a.m. and 6:50 a.m. New York time, the FT estimated based on Bloomberg data. The trades occurred about 15 minutes before Trump\u2019s 7:04 a.m. post stating there had been “productive conversations” with Tehran to end the war in Iran.<\/p>\n
Trading volumes for Brent and WTI increased at the same time, 27 seconds before 6:50 a.m. Futures tracking the S&P 500 share index rose in price moments after the oil trade, with volumes also rising during that timeframe.<\/p>\n
It was not known whether one entity or several entities were behind Monday\u2019s trades.<\/p>\n
Trump\u2019s Truth Social post triggered a sell-off across global energy markets and gains in S&P 500 stock index futures and European equities.<\/p>\n
Crude Oil WTI futures were trading at about $89.50 around 6 PM New York time on Monday, down from above $98 right before Trump made his post. The S&P 500 index gained 1.05% on Monday.<\/p>\n
Later on Monday, Mohammad-Bagher Ghalibaf, Speaker of Iran\u2019s parliament, denied in a post on X that any negotiations between Washington and Tehran had taken place.<\/p>\n
Related articles<\/p>\n
Traders placed $580M in oil bets minutes before Trump\u2019s Iran post<\/a><\/p>\n White House eyes Iran parliament speaker as potential US-backed leader – Politico<\/a><\/p>\n