Surge in global betting on energy markets seen on Monday morning 15 minutes prior to President Donald Trump’s Truth Social post announcing ‘productive’ talks with Iran

Surge in global betting on energy markets seen on Monday morning 15 minutes prior to Donald Trump’s Truth Social post announcing ‘productive’ talks with Iran

A surge in betting on global oil markets just 15 minutes before Donald Trump announced a temporary halt to his airstrikes on Iran this week has sparked claims of insider trading.

Trump said on his Truth Social platform at 7.05 a.m. Monday: “I am please [sic] to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”

Iran denied any such talks had taken place, branding them “fake news”.

But according to Bloomberg, at least 6 million barrels of Brent and West Texas Intermediate were suddenly sold between 6.49 a.m. and 6.51 a.m, raising suspicions that word of the president’s announcement was leaked in advance.

    • boonhet@sopuli.xyz
      5·
      2 days ago

      This is not particularly relevant to this discussion, but it reminds me of the guy on WSB who made a stupid bet on negative oil and almost had to take delivery of a bunch of crude lmao

    • MalReynolds@slrpnk.netEnglish
      9·
      2 days ago

      In a sane world it would be illegal, or just betting rather than trading (if there’s a significant difference beyond the house being a more forgiving stock exchange).

    • Fedizen@lemmy.world
      4·
      2 days ago

      The fact there isn’t like a 1 day mandatory delay in making these kind of bets is why this bullshit keeps happening