Traders placed $430 million on a drop in Brent crude just 15 minutes before President Trump extended an Iran ceasefire. The move came in the narrow window of post-settlement hours, a period normally marked by low volume. The bets are part of a pattern this month, with similar large wagers occurring on March 23 and April 7, and a total of $2.1 billion in April alone, according to market data. Between 1954 and 1956 GMT on Tuesday, 4,260 lots of selling hit the market, worth a combined $430 million, based on the prevailing Brent futures price, LSEG data shows. The trades pushed the price from $100.91 to $100.66 a barrel, before a brief dip to $96.83 in the minute after Trump's announcement. By 1200 GMT on Wednesday, Brent was trading at $99.2 a barrel. According to LSEG data, the trades did not have much impact on the 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 spokesperson for the Intercontinental Exchange, known as ICE, declined to comment. Reporting by Amanda Cooper; additional reporting by Ahmad Ghaddar. Editing by Alex Lawler, Kirsten Donovan.