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Some traders made a staggering $580 million worth of oil bets just 15 minutes before President Donald Trump posted about “productive” talks with Iran, according to the Financial Times. The timing was so precise it made market watchers do a double take, and it caused oil prices to jump and dip in seconds.
Basically, these traders were betting on which way oil prices would move. When Trump hinted the Iran conflict might ease, prices dropped, U.S. stocks jumped, and some people in the market likely made a ton of money. Then Iran denied talks had happened, and prices bounced back.
What’s got experts talking is just how perfectly timed these trades were. It’s hard to say if it was a coincidence or if someone deliberately acted on insider knowledge; the article notes there’s no proof yet, but market insiders are calling it “abnormal” and “highly unusual" since the trades came before any public news.
*Source: Financial Times
