Oil prices have plunged on on reports that the US and Iran are nearing a peace deal, a development that paid off big for traders that happened to be shorting crude just ahead of the news.
Interesting: Net oil trades overwhelmingly driven by shorts, much less long positions, which could explain some of the slow burn via the ALWAYS worth reading @jkempenergy.bsky.social
-- Mike Madowitz (@mikemadowitz.bsky.social) May 5, 2026 at 9:06 AM
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