DOJ probing $2.6 billion in oil trades related to Iran war, sources say
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Key Points:
- The Department of Justice and the Commodity Futures Trading Commission are investigating suspiciously timed oil trades made just before major announcements by President Trump and an Iranian official regarding the Iran war.
- At least four trades totaling over $2.6 billion were placed betting on a drop in oil prices shortly before these announcements, according to data from the London Stock Exchange Group.
- Significant trades include $500 million before Trump's March 23 delay of attacks on Iran's power grid, $960 million before the April 7 ceasefire announcement, $760 million before Iran's Foreign Minister's April 17 statement, and $430 million before Trump's April 21 ceasefire extension.
- The data does not reveal the identities of the traders nor confirm insider trading, and the DOJ and CFTC have not made official comments on the investigation.
- This is an ongoing investigation, and further updates are expected as more information becomes available.
