Massive $7bn oil bets before Trump's Iran announcements raise questions

Massive $7bn oil bets before Trump's Iran announcements raise questions Trading data reviewed by Reuters showed that investors placed roughly $7 billion in bets on falling oil prices during March and April, shortly before major announcements by US President Donald Trump concerning Iran policy and the war in the Middle East. The positions, involving crude oil, diesel and gasoline futures on the Intercontinental Exchange and Chicago Mercantile Exchange, were executed immediately before statements that triggered sharp price declines, raising questions about possible use of undisclosed information. Reuters reported that traders first identified unusual activity on 23 March, minutes before Trump announced a delay in attacks on Iranian energy infrastructure, causing prices to fall sharply.