Traders Bet $430M on Falling Oil Prices Minutes Before Trump Announced Iran Ceasefire Extension
The trades, reported
on by Reuters, involved the aggressive sale of 4,260 lots of Brent
crude futures between 19:54 and 19:56 GMT, during post-settlement hours
when market liquidity
is typically thin. At prevailing prices near $100.91 per barrel, the
position carried approximately $430 million in notional value.
At 20:10 GMT, Trump posted on Truth Social that the ceasefire would be extended indefinitely. He cited Pakistan’s mediation, crediting Field Marshal Asim Munir and Prime Minister Shehbaz Sharif for requesting the delay. He also described Iran’s government as “seriously fractured” in the post.
Brent crude fell to a session low of $96.83 per barrel within minutes of the announcement. Prices partially recovered during early April 22 trading, hovering between $99 and $101, as reports of Iranian ship seizures in the Strait of Hormuz kept markets on edge.