Mysterious Trader Buys $56 Million in Oil Ahead of UAE Attack
A mysterious trader opened a $56 million long position in crude oil just before a reported drone attack on a UAE oil facility, raising questions about the timing of the trade. The incident caused oil prices to rise, with Brent crude up 4.13% and WTI crude up 2.60%. The attack added to existing tensions in the Strait of Hormuz.
Topics: drone attack oil markets speculative positions trading activity UAE fire