DOJ, CFTC Probe $7 Billion Oil Bets Before Iran-Related Announcements

businesslawenergy-marketsoil 1 posts · 1 accounts

The US Department of Justice and the Commodity Futures Trading Commission are examining up to $7 billion of bets on falling oil prices that were placed shortly before major Iran-related announcements in March and April, according to a Reuters analysis. The trades were made minutes before statements by Donald Trump and Iranian officials on ceasefires, delays to attacks and the reopening of Hormuz that triggered sharp drops in oil prices.

Reuters said the positions were taken in crude oil, diesel and gasoline futures on Intercontinental Exchange and CME Group. The timing of the trades has raised concerns that some market participants may have had advance knowledge of market-moving announcements.

From the sources (1 posts)

@marionawfal

🚨🇺🇸🇮🇷 The Iran war just got its insider trading scandal, and it's a $7 billion one... A Reuters analysis found that traders placed up to $7 billion in well-timed bets on falling oil prices shortly before major Iran-related announcements by

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