Traders Bet on Oil Drop, Hours Before Trump's Iran Ceasefire

0:00It's April 8th, welcome to U.S. News Today, powered by AI and covering the nation. Investors dropped about $950 million betting oil prices with tank, just hours before President Trump announced a two-week ceasefire with Iran. They sold off 8,600 lots of Brent and U.S. crude futures at 7.45pm, Greenwich Mean Time on Tuesday. That bet hit right as Trump backed off his threats at 10.30pm, GMT, or 6.30pm Eastern Standard Time. Crude futures plunged 15% overnight, dipping below $100 a barrel when Wednesday trading kicked off. Traders usually spread out these massive wagers to dodge price swings, especially after the daily settlement at 6.30pm, GMT. This one echoed a similar $500 million sell-off on March 23rd, 15 minutes ahead of another Trump delay on Iran strikes. Both trades equaled about 1% of the day's regular volume, 6,200 Brent lots, and 2,400 West

1:02Texas. Intermediate lots. Extranges like Xiaomi stay quiet on the details. With war jacking up volatility, daily Brent volumes have doubled to over 1 million lots lately, covering a billion barrels worth. Keeps the oil game wild as ever.