Hard Numbers
Crude timing
The amount of money that was wagered in the oil market on Monday just 15 minutes before US President Donald Trump boasted of “productive” talks with Iran.
Natalie Johnson
March 24, 2026
Trump’s comments on social media yesterday morning sent fuel prices tumbling, as investors increased their hopes for a swift end to the Iran conflict. But right before the post, there was a flurry of activity between oil traders, per a Financial Times analysis of Bloomberg data. The well-timed trades have raised eyebrows among market strategists, while the White House has denied allegations of sharing insider knowledge.
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In his latest Quick Take, Ian Bremmer says the US and Iran’s memorandum of understanding to end the fighting and reopen the Strait of Hormuz marks progress, but warns it falls far short of resolving the broader conflict.
A man holds an Iranian flag on a street, after U.S. and Iranian officials said they had reached a deal to end their war and reopen the Strait of Hormuz, in Tehran, Iran, June 15, 2026.
Majid Asgaripour/WANA via REUTERS
The United States and Iran said Sunday that they had reached an interim agreement that could end the months-long war and reopen the Strait of Hormuz. Officials are expected to sign the deal in Switzerland on Friday, following the G7 summit in France.
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