DOJ probing $2.6 billion in oil trades related to Iran war, sources say
Summary
The U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) are investigating oil trades worth over $2.6 billion. These trades happened just before important announcements by President Donald Trump and an Iranian official about the war and ceasefire with Iran, where traders bet that oil prices would fall.Key Facts
- The investigation focuses on at least four large oil trades linked to major political events about the Iran conflict.
- Traders placed bets totaling more than $2.6 billion that oil prices would drop right before key announcements.
- On March 23, traders bet $500 million that oil prices would fall 15 minutes before President Trump delayed attacks on Iran’s power grid.
- On April 7, $960 million was bet before Trump announced a temporary ceasefire with Iran.
- On April 17, $760 million was bet before Iran’s Foreign Minister said the Strait of Hormuz was open.
- On April 21, $430 million was bet before Trump extended the ceasefire.
- The data does not show who made the trades or if they used insider information.
- The DOJ and CFTC have not publicly commented on the investigation.
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