Large traders sold roughly $760 million worth of Brent crude futures in a coordinated move ahead of announcements about Iran's potential closure of the Strait of Hormuz, betting oil prices would fall. The Strait carries roughly 20% of global oil shipments, so any closure threat sends energy prices volatile — these traders timed the bet to profit from the expected swing. The Guardian reported similar suspicious wagers exceeding $1 billion across the broader Iran conflict, raising questions among lawmakers about whether traders had advance warning of geopolitical moves.