The alleged trade came shortly before reported progress toward US-Iran deal to end the war, raising suspicions of insider information
A massive crude oil bet placed shortly before reports of a possible US-Iran peace deal sent prices crashing and fueled suspicion of insider trading, after the position reportedly generated a $125 million profit in just over an hour.
According to market commentary platform the Kobeissi Letter, nearly 10,000 crude oil short contracts were placed around 3:40 AM (07:40 GMT) on Wednesday “without any major news,” describing the roughly $920 million position as unusually large for that time of day.
At 4:50 AM, Axios…
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