Already the 4th suspicious transaction... 600 billion won oil price bet just before Trump's truce extension

U.S. President Donald Trump

It has been revealed that massive bets on falling crude oil prices once again flooded the investment market just before U.S. President Donald Trump abruptly announced an extension of the truce with Iran.

According to Reuters on the 22nd (local time), just 15 minutes before President Trump announced the truce extension on the 21st, traders sold 4,260 Brent crude oil futures contracts.

At the time, this amounted to 430 million dollars (630 billion won) based on Brent futures prices, a large directional bet aimed at a fall in oil prices.

Reuters noted that this bet was made during a period of extremely low trading volume after the settlement price (closing price), pointing to the possibility of a 'suspicious transaction'.

According to London Stock Exchange Group (LSEG) data, just before this bet was made, Brent crude oil futures fell slightly from $100.91 to $100.66 per barrel, then plummeted to $96.83 immediately after the truce extension announcement.

This suggests that traders who bet on falling oil prices just before the truce extension announcement likely made huge profits.

Gasoline price display at a gas station in Washington D.C.

This is the fourth suspicious transaction targeting rapid oil price changes since the start of the war with Iran, with three occurrences just this month. According to Reuters, the total amount bet this month is $2.1 billion, and last month it was $500 million.

Previously, on the 23rd of last month, 15 minutes before President Trump announced a delay in the attack on Iran's power infrastructure, traders bet $500 million on falling oil prices.

On the 7th of this month, just a few hours before President Trump announced a two-week truce, $950 million worth of crude oil futures were sold.

On the 17th, approximately 20 minutes before Iranian Foreign Minister Abbas Araghchi announced via X (formerly Twitter) that navigation through the Strait of Hormuz would be permitted, traders bet $760 million on falling oil prices.

As suspicious transactions have been repeated just before critical changes in the war situation were revealed through the mouths of President Trump and others, some are suspecting the possibility of insider information leaks.

Currently, the U.S. regulatory authority, the Commodity Futures Trading Commission (CFTC), is investigating a series of unusual oil futures transactions, including bets made on the 23rd of last month and the 7th of this month.