At 6:50 a.m. on March 23, more than $800 million was staked on the chance of oil prices dropping, according to data from the financial firm LSEG. Fifteen minutes later, President Trump posted on Truth Social that the White House and Iran had “very good and productive conversations” about ending hostilities. The news sent the price of oil plummeting more than 10%. The early morning wager made tens of millions, according to lawyer and former commodities trader David Kovel. Was this insider trading? ”That’s a natural conclusion to draw. I can’t know it without knowing what happened, but it’s a natural conclusion to draw,” responds Kovel. #insidertrading #oilprices #wallstreet #commodities