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Analysis states that about 70 minutes before the release of reports suggesting the US and Iran are close to reaching a consensus, the oil market had an abnormal short position of $920 million.
BlockBeats News, May 7, according to an analysis by market watcher The Kobeissi Letter, reported by Axios, that about 70 minutes before it said the United States and Iran were close to reaching consensus on 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 (15:40 Beijing Time), with no major news, the market built nearly 10,000 crude oil short contracts. Measured by nominal value, the transaction size was about $920 million, an unusually large trade for the 3:40 AM time slot.
70 minutes later, at 4:50 AM Eastern Time (16:40 Beijing Time), Axios reported that the United States was “close” to reaching a memorandum of understanding to end the Iran war. By 7:00 AM Eastern Time (19:00 Beijing Time), oil prices had fallen by more than 12%, and the aforementioned crude oil short position was in an unrealized profit of about $125 million. (Jin10)