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Before Trump announced the extension of the ceasefire, the oil market saw $430 million in short bets.
Jinshi Financial reported that on April 23, according to Reuters, U.S. President Trump announced a 15-minute extension of the ceasefire with Iran before it expired on Tuesday, and ahead of that, traders placed a series of bets expecting crude oil prices to fall, totaling $430 million. This was the third time this month—and the fourth time so far—that large, precisely timed directional bets on oil prices appeared ahead of major statements related to the Iran conflict. One comprehensive bet in March was valued at $500 million, while the total bets in April have already reached approximately $2.1 billion.
According to data from the London Stock Exchange Group (LSEG), during a two-minute period from 7:54 to 7:56 p.m. GMT on Tuesday, the oil market saw 4,260 sell orders; based on the then-current Brent crude futures price LCOc1, their total value came to $430 million. Trump said at 8:10 that the ceasefire would be extended indefinitely. These trades took place after hours, when trading volume is typically extremely limited. (Dongxin News Agency)