Crude oil market sees "fantastic" betting, mysterious short positions placed, earning 70 million dollars in profits in one hour.

Just as the United States and Iran were continuing to negotiate a ceasefire, a "mysterious large order" that appears at major junctures once again descended upon the crude oil market. According to market trading data and the research institution The Kobeissi Letter, at 8:24 a.m. Eastern Time on Friday morning, the oil market suddenly saw a surge in volume without any news, with nearly $800 million worth of transactions occurring in a short period of time, accompanied by a drop in prices. 21 minutes later, Iran's Foreign Minister Zarif announced that the Strait of Hormuz was "completely open" to all commercial ships. President Trump posted a message at 9:06 a.m. thanking Iran for reopening the strait. By 9:10 a.m., the U.S. WTI crude oil futures briefly fell below $80 per barrel. The Kobeissi Letter estimated that this trade resulted in a profit of $70 million in less than an hour.