Oil traders bet millions ahead of Trump’s Iran talks post
At 06:49 ET, traders placed 733 bets on WTI crude oil contracts on the New York Mercantile Exchange (Nymex). One minute later, that number had jumped to 2,007. That's equivalent to about $170m. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Hundreds of millions of dollars were bet on oil contracts just before US President Donald Trump announced a postponement of strikes against Iran. The spike in trading activity, which occurred minutes before Trump's social media post, has led to speculation of insider trading.
- Approximately $170 million in WTI crude oil contracts and $150 million in Brent crude contracts were traded in a minute leading up to the announcement.
- Traders who bet on the price of oil falling profited significantly as it dropped 14% shortly after the news.
- The White House stated it does not "tolerate any administration official illegally profiteering off of insider knowledge."
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Oil Prices Surge Above $100 as US-Iran Talks Create Market Volatility - March 2026
Oil prices surged back above $100 a barrel as conflicting reports emerged about potential talks between the United States and Iran, creating market volatility. Hundreds of millions of dollars were bet on oil contracts just before US President Donald Trump announced a postponement of strikes against Iran, with the spike in trading activity occurring minutes before his social media post, leading to speculation of insider trading. Meanwhile, Slovenia became the first EU country to introduce fuel rationing on March 24 due to disruptions in global energy markets caused by US-Israeli strikes on Iran and its retaliation, a measure aimed at combating fuel tourism from neighboring countries.
