Oil Price Bets Hit $7 Billion Before Iran Policy Announcement, Far Exceeding Prior Reports

According to Reuters and traders analyzed by market experts, between March and April, a series of precisely timed oil price decline bets totaling $7 billion appeared across multiple exchanges and derivatives markets ahead of U.S. President Trump’s major Iran policy announcement. The figure far exceeds the previously reported $2.6 billion in bets. The earlier $2.6 billion in bets had prompted U.S. government warnings against using non-public information for financial gain. The U.S. Commodity Futures Trading Commission is investigating the matter, according to a source in April, though the agency has not formally confirmed an investigation. Reuters could not determine the source of the bets. Trading venues ICE and CME declined to comment; CME is reportedly investigating related trades.