Oil drilling rigs
Investors bet nearly $950 million on a drop in oil prices just hours before the US and Iran announced a ceasefire, the latest in a series of large-scale bets ahead of major policy decisions by US President Donald Trump. 
According to data from the London Stock Exchange Group (LSEG), investors sold 8,600 contracts for Brent and US crude futures at 7:45 PM GMT on April 7.
Around 10:30 PM GMT, Trump announced a two-week ceasefire with Iran, sending oil futures down by about 15% to below $100 a barrel at the start of trading on April 8.
This follows similar moves on March 23, when investors sold $500 million worth of oil futures just 15 minutes before Trump called off attacks on Iranian energy infrastructure.
Oil drilling rigs
Investors bet nearly $950 million on a drop in oil prices just hours before the US and Iran announced a ceasefire, the latest in a series of large-scale bets ahead of major policy decisions by US President Donald Trump.
According to data from the London Stock Exchange Group (LSEG), investors sold 8,600 contracts for Brent and US crude futures at 7:45 PM GMT on April 7.
Around 10:30 PM GMT, Trump announced a two-week ceasefire with Iran, sending oil futures down by about 15% to below $100 a barrel at the start of trading on April 8.
This follows similar moves on March 23, when investors sold $500 million worth of oil futures just 15 minutes before Trump called off attacks on Iranian energy infrastructure.
