Analysis claims that about 70 minutes before reports of US-Iran approaching consensus, an anomalous short position of $920 million appeared in the oil market, with floating profits of approximately $125 million

Odaily Planet Daily News According to an analysis by market watchdog The Kobeissi Letter, approximately 70 minutes before Axios reported that the US and Iran were nearing a "14-point" agreement to end the war, crude oil short positions worth about $920 million were established. At 3:40 AM Eastern Time today (3:40 PM Beijing Time), in the absence of any major news, the market established nearly 10,000 short crude oil contracts. In nominal terms, this transaction was worth approximately $920 million, an anomalously large amount for the 3:40 AM time slot. 70 minutes later, at 4:50 AM Eastern Time (4:40 PM Beijing Time), Axios reported that the US was "close" to a "Memorandum of Understanding" to end the war with Iran. By 7:00 AM Eastern Time (7:00 PM Beijing Time), oil prices had fallen over 12%, and the aforementioned crude oil short position had generated floating profits of approximately $125 million. (Jinshi Data)