'Insider trading': Oil and stocks jolt on news of US-Iran deal as some cry 'manipulation' 'Insider trading': Oil and stocks jolt on news of US-Iran deal as some cry 'manipulation' Submitted by MEE staff on Wed, 05/06/2026 - 18:50 Minutes before the report dropped on a potential peace deal, $920m was wagered on oil prices plunging Traders work on the floor of the New York Stock Exchange at the opening bell in New York City, on 30 April 2026 (Timothy A Clary/AFP) Off A report that Iran and the US were inching closer to a peace deal sent oil prices plunging and stock indexes soaring, as some traders claimed that the false starts were starting to smell of market manipulation. A report by Axios published on Wednesday said the two countries were closing in on “a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations”, amid the US-Israeli war on Iran. Brent crude dropped from $108 per barrel to $97 after the report, before regaining some ground. The international benchmark was still down around seven percent at roughly $102 per barrel.
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'Insider trading': Oil and stocks jolt on news of US-Iran deal as some cry 'manipulation' Submitted by MEE staff on Wed, 05/06/2026 - 18:50 Minutes before the report dropped on a potential peace deal, $920m was wagered on oil prices plunging Traders work on the floor of the New York Stock Exchange at the opening bell in New York City, on 30 April 2026 (Timothy A Clary/AFP) Off A report that Iran and the US were inching closer to a peace deal sent oil prices plunging and stock indexes soaring, as some traders claimed that the false starts were starting to smell of market manipulation. A report by Axios published on Wednesday said the two countries were closing in on “a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations”, amid the US-Israeli war on Iran. Brent crude dropped from $108 per barrel to $97 after the report, before regaining some ground. The international benchmark was still down around seven percent at roughly $102 per barrel. Just 70 minutes before the Axios report dropped, nearly $920m was wagered on crude oil short positions, Unusual Whales posted on X. The social media account spotlights activity with hallmarks of potential insider trading. The holder of the short position would have gained an estimated $125m, Unusual Whales said. Oil sold off on the expectation that a peace deal would lead to the reopening of the Strait of Hormuz, where both Iran and the US are trying to enforce competing blockades, even as they abide by a fragile ceasefire. The bet ignited a firestorm on X among traders and financial commentators. 'Insider trading?' "Every major announcement in this war has been front-run by someone who knew it was coming. What kind of war is this? This is more like a trading desk with an army,” one person wrote on X. "When is everyone going to start realizing that the manic on again off again war/peace rhetoric is really just insider trading? And sprinkle in so
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