Investors have placed an estimated $950 million bet on oil prices falling just hours before the U.S. and Iran announced a ceasefire. This is the latest large wager on the direction of the world's most traded commodity, oil prices, ahead of a major policy announcement by President Donald Trump. Investors sold a combined 8,600 lots of Brent and US. crude futures at 1945 GMT on Tuesday, which is not unusual as traders often hedge large volumes of physical oil trade. However, large orders are rarely executed after settlement, usually occurring between 1830 and 1900 GMT. Since the start of the war, trading volumes and volatility have surged, with daily volumes reaching record highs of over 1 million lots.