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Oil Market Sees $920M Short Position Built 70 Minutes Before U.S.-Iran Peace Deal Report

2026-05-06 09:30:54

According to market analysis firm The Kobeissi Letter, approximately $920 million in crude oil short positions were established on May 7 at 3:40 AM ET (3:40 PM Beijing time), 70 minutes before Axios reported that the U.S. was nearing a deal with Iran to end their conflict. The market built nearly 10,000 crude oil short contracts during an otherwise quiet trading session, an unusually large transaction for that time. By 7:00 AM ET (7:00 PM Beijing time), oil prices had declined over 12%, generating approximately $125 million in unrealized gains on the short position.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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