Torres Presses CFTC for Broader Probe of Oil Trades
Rep. Ritchie Torres asked the Commodity Futures Trading Commission on Wednesday to broaden an ongoing inquiry into oil trading to include the minutes before President Donald Trump announced an extended ceasefire with Iran on Tuesday. In a letter to CFTC Chair Michael Selig, the New York Democrat cited a two-minute stretch of after-hours trading when sales of oil futures surged ahead of the announcement.
The request followed a series of bets worth $430 million on lower crude prices about 15 minutes before Trump's statement. It was the third such episode this month and the fourth overall before major announcements about the war with Iran, after a combined wager in March worth $500 million; April's bets have totaled about $2.1 billion.
From the sources (4 posts)
@staunovoTraders placed a series of bets worth $430 million on a drop in crude prices just 15 minutes before U.S. President Donald Trump said he would extend a ceasefire with Iran on Tuesday. It is the third time this month, and the fourth in total
@oilheadlinenewsTraders placed a series of bets worth $430 million on a drop in crude prices just 15 minutes before U.S. President Donald Trump said he would extend a ceasefire with Iran on Tuesday. - Reuters
@staunovoRep. Ritchie Torres is pushing regulators to probe well-timed oil trades before market-moving news about the war with Iran. The New York Democrat on Wednesday requested the Commodity Futures Trading Commission broaden an ongoing inquiry to
@alexlawler100Traders placed bets worth $430 million on a drop in crude prices just 15 minutes before President Trump said he would extend a ceasefire with Iran, which sent the market lower @a_coops1