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Oil Trades Surge Minutes Before Donald Trump Iran Announcement

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Oil Trades Surge Minutes Before Donald Trump Iran Announcement

Oil markets were jolted by a wave of unusually timed trades just minutes before Donald Trump revealed that the United States would postpone planned strikes on Iranian energy infrastructure, raising fresh questions about possible foreknowledge among traders.

According to market data hundreds of millions of dollars were rapidly committed to oil contracts shortly before the president’s announcement on Monday. The surge occurred roughly fifteen minutes before Trump disclosed via his Truth Social platform that Washington had engaged in “very good and productive conversations” with Tehran, hinting at a potential easing of tensions.

The market reaction was immediate and dramatic. Oil prices plunged by as much as 14% within minutes of the post, rewarding traders who had positioned themselves ahead of the unexpected development. The sharp move also triggered a rebound in global stock markets, which had earlier been under pressure from escalating fears surrounding the Middle East conflict.

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Analysts have pointed to the timing and scale of the trades as highly unusual. Activity in New York Mercantile Exchange crude oil contracts spiked sharply at 06:49 Eastern Time, when 733 trades were placed. Just one minute later, that figure surged to over 2,000 trades—representing roughly $170 million in positions.

A similar pattern unfolded in Brent Crude contracts, where trading volume jumped from just 20 transactions to more than 1,600 within the same one-minute window, amounting to approximately $150 million.

Such activity stands in stark contrast to typical trading patterns observed on previous Mondays, when volumes at that time of day are usually far lower. The anomaly has prompted speculation among market watchers that some participants may have acted on advance knowledge of the president’s decision.

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The developments come against the backdrop of heightened volatility driven by tensions in the Middle East. Just days earlier, Trump had warned Iran of severe consequences, including threats to “obliterate” its power infrastructure if the strategically critical Strait of Hormuz was not reopened within 48 hours.

Although markets were closed over the weekend, the impact was felt when trading resumed in Asia on Monday, with equities declining and oil prices climbing on fears of escalation. However, optimism sparked by the announcement of diplomatic progress quickly reversed those trends, sending oil prices lower and boosting investor confidence.

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Ye Announces Sold-Out Concerts in Russia

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Ye, the rapper formerly known as Kanye West, is set to perform two concerts in St Petersburg, Russia, in October, becoming the highest-profile Western music star to stage shows in the country since Russia’s invasion of Ukraine four years ago.

The concerts will take place at the 70,000-capacity Gazprom Arena. Tickets sold out within hours of being announced on Monday, with prices ranging from 9,000 roubles (£78) to 160,000 roubles (£1,394).

The performances come as Ye seeks to rebuild his public image after several years of controversy over antisemitic and pro-Nazi comments.

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In January, the rapper issued an apology for his remarks, attributing his behaviour to a brain injury and bipolar disorder.

However, attempts to return to major international touring have faced significant opposition. Several concerts scheduled across Europe this summer were cancelled following public backlash over his past statements.

In the UK, the long-running Wireless Festival was cancelled after Ye, who had been due to headline all three nights, was refused entry to the country.

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The Home Office said his presence was judged not to be “conducive to the public good”.

Shows in France, Poland, Italy and the Czech Republic were also cancelled, while concerts in Spain, Portugal, the Netherlands, Turkey and Albania went ahead.

The St Petersburg dates mark Ye’s most prominent return to a major international stage following the wave of cancellations and renewed scrutiny surrounding his past remarks.

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Miss Universe Canada contestants apologise over Indigenous-inspired costumes

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Two contestants at the Miss Universe Canada pageant have apologised after wearing costumes inspired by Indigenous culture during the national costume segment.

Contestant Karisa Haverkamp wore a feathered headdress and had a red handprint painted on her face, while Jasleen Kaily appeared in an all-fur outfit with boots known as mukluks and two braids.

The costumes sparked criticism from former Miss Universe Canada winner Ashley Callingbull, a Plains Cree woman from the Enoch Cree Nation, who interrupted part of the pageant she was co-presenting to address the issue.

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“It’s 2026, we should know better,” Callingbull said.

She described the costumes as cultural appropriation, while clarifying that she was not present when they were worn and had seen the incident later in a video.

Haverkamp apologised in a statement shared on Instagram, saying she recognised that her costume had caused “hurt and offence” to members of the Indigenous community.

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“I appreciate what I have learned from this experience,” she said.

The feathered headdress she wore is traditionally associated with highly respected Indigenous leaders in North America. The red handprint painted on her face is also a symbol of solidarity with the Missing and Murdered Indigenous Women movement.

Kaily also apologised, saying her intention had never been to disrespect or misrepresent Indigenous culture.

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“My intention was never to disrespect or misrepresent Indigenous culture, but rather to recognise and celebrate one of the First Peoples of Canada,” she said.

The Miss Universe Canada organisation said it was sorry if the costumes caused offence, hurt or misunderstanding, adding that this had never been its intention.

The pageant’s national costume segment is described as a celebration of Canadian culture and heritage, with contestants expected to present outfits inspired by the country’s traditions, symbols and history.

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Following the controversy, Miss Universe Canada said it would introduce a “comprehensive costume guide” establishing clearer standards for future pageants to ensure cultural presentations are handled respectfully.

Pageant director Sonny Borrelli also invited Callingbull, the first First Nations woman to win Miss Universe Canada, to serve as the official liaison for the costume segment in future competitions.

During Saturday’s final, Callingbull told Borrelli that the organisation’s initial statement did not contain a direct apology and invited him to address the controversy.

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Borrelli said the organisation takes “full responsibility” for the error.

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The Sopranos actor Vincent Pastore dies aged 80

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US actor Vincent Pastore, best known for playing Salvatore “Big Pussy” Bonpensiero in the acclaimed crime drama The Sopranos, has died at the age of 80, according to several US media outlets.

Pastore rose to prominence as Tony Soprano’s close friend who later became an FBI informant. His character’s death in the second season remains one of the most memorable moments in the series.

Born in the Bronx in 1946, Pastore served in the US Navy during the Vietnam War before pursuing a career in acting.

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His early film credits included roles in Goodfellas and Carlito’s Way. He also appeared in television series including Law & Order, General Hospital and Hawaii Five-0.

However, it was his role in The Sopranos that brought him international recognition. Although his character was killed off in the second season, Pastore continued to appear in later episodes through flashbacks and dream sequences.

In 2000, Pastore and his fellow cast members won the Screen Actors Guild Award for Outstanding Performance by an Ensemble in a Drama Series for their performances in the landmark HBO series.

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