1 of 1
Story summary
- A surge of about $920 million in crude-oil short contracts was placed just before an Axios story on a U.S.–Iran peace effort.
- U.S. officials said memorandum of understanding to end the Iran war is near, prompting oil prices to fall more than 12 %.
- Brent fell to $101.93 and WTI to $95.06, giving traders about $125 million in gains and prompting the Kobeissi Letter to note $950 million and $760 million bets, suggesting a pattern.
