$7 Billion In Perfectly Timed Oil Bets Sparks Insider Trading Fears
Last month, we reported that over $1 billion in "perfectly timed" wagers, spanning both traditional oil futures and digital prediction markets, accurately anticipated major military and diplomatic shifts linked to developments in the Iran-US war minutes before they were publicly announced, raising major suspicion of insider trading. Many suspicious accounts were newly created and only traded on specific Iran-related events with a win rate of up to 93%. Well, the final numbers are in, and the initial report might only have been the tip of the iceberg. While previous reports focused on ~$2.6 billion in front-month crude contracts, a broader analysis by Reuters has revealed that total wagers, including bets on Brent, WTI, European diesel, and U.S. gasoline futures, hit $7 billion. According to an analysis by Reuters, the giant bets were executed in large blocks on four specific days, often 15 to 20 minutes before announcements that triggered double-digit declines in oil prices.
https://oilprice.com/Energy/Crude-Oil/7-Billion-In-Perfectly-Timed-Oil-Bets-Sparks-Insider-Trading-Fears.html
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