Information about the investigation came shortly after news of a new suspicious transaction on Wednesday, May 6, reports RBC. Then traders opened short positions on oil for $920 million 70 minutes before Axios reported that the U.S. and Iran were close to an agreement to end the conflict in the Middle East.
ABC News, citing sources, published a chronology of suspicious transactions, which is published by RBC:
– On March 23, traders placed $580 million in oil bets about 15 minutes before Trump’s announcement about talks with Iran;
– On April 7, traders placed bets on $960 million hours before the announcement of a temporary ceasefire;
– On April 17, traders opened positions on $760 million 20 minutes before Iranian Foreign Minister Abbas Araqchi announced the opening of the Strait of Hormuz;
– On April 21, traders opened positions worth $430 million in anticipation of falling oil prices just 15 minutes before the U.S. leader announced an extension of the cease-fire with Iran.
However, RBC clarifies that the data obtained from the London Stock Exchange (LSE) did not reveal the names of those behind the trades, nor did it prove insider trading. The report also notes that neither the Department of Justice nor the Commodity Futures Trading Commission (CFTC) commented on the investigation.
