Traders place $430 million bet on lower oil price before Trump ceasefire extension

Traders have placed a $430 million bet on a lower oil price in anticipation of a ceasefire extension by Trump. This move indicates a potential shift in market expectations and could impact global oil prices. The bet is a significant one, totaling $430 million, and reflects the market's uncertainty about the future of oil prices. The extension of the ceasefire could lead to increased oil production and lower prices.