Between 1224 GMT and ​1225 GMT investors sold a combined 7,990 lots of Brent crude futures , ​according to LSEG data.

Based on the price at the time, these trades were worth about $760 million.

At 1245 GMT, Iran's foreign minister posted on X that passage for ​all commercial vessels through the Strait of Hormuz was declared completely ​open for the remaining period of ceasefire, in line with the ceasefire in ‌Lebanon.

The ⁠announcement pushed crude down as much as 11% on the day in the minutes that followed.

Reuters reported that on April 7 that bets worth around $950 million took place just hours ahead of the U.S. and ​Iran announcing a ​two-week ceasefire. On ⁠March 23, investors sold $500 million in 15 minutes before U.S. President Donald Trump's announcement that he ​would delay attacks on Iran's energy infrastructure, triggering a ​15% ⁠drop in the crude price.

The U.S. Commodity Futures Trading Commission is investigating a series of oil futures trades, including those on March 23 and April ⁠7, ​that were placed shortly before major policy ​shifts by Trump related to the war in Iran, a person familiar with the matter said ​on Wednesday.