FINWIRES · TerminalLIVE
FINWIRES

Update: CFTC Reportedly Probes Oil Futures Trades Timed Ahead of Iran-Related Policy Moves

-- (Updates with comments from ICE and CME in the fifth, sixth and seventh paragraphs.)

The US Commodity Futures Trading Commission is investigating a series of oil futures trades executed shortly before major US policy developments tied to President Donald Trump's handling of the Iran conflict, news outlets reported on Wednesday.

The inquiry is reportedly examining trading activity in crude oil futures on exchanges operated by CME Group (CME) and Intercontinental Exchange (ICE), focusing on at least two instances on Mar. 23 and Apr. 7.

Investigators have requested exchange records, including so-called "Tag 50" identifiers that can reveal the entities behind the trades, the reports said.

The scrutiny follows concerns raised by market participants and at least two Democratic senators that the unusually well-timed trades may have generated significant profits and could indicate the use of non-public information.

ICE declined to comment in response to' request.

CME Group's spokesperson Anita Liskey told, "Nothing is more important than market integrity. At CME Group, we vigorously surveil our markets and work closely with the CFTC to oversee trading activity."

"Importantly, any review of market behavior must include all venues, including prediction markets like Polymarket and Kalshi that list related products with little to no visibility," she said in an emailed response.

The CFTC and the White House did not immediately respond to requests for comment.

On Mar. 23, oil and stock futures worth billions of dollars were traded 15 minutes before Trump said previously threatened strikes on Iranian energy infrastructure would be delayed.

Last week, investors placed roughly $950 million in bullish oil positions hours before the US and Iran announced a ceasefire, the reports said.

The White House is reported to have previously cautioned staff against using sensitive government information for personal trading in futures markets during the ongoing Iran conflict.

Last month, the CFTC's enforcement director said the agency was monitoring potential market misconduct and manipulation in energy markets and was aware of recent speculation about insider trading in CFTC-regulated products.

Price: $164.13, Change: $-0.94, Percent Change: -0.57%

Related Articles

Sectors

Update: Gold Moves Lower Again as Dollar Rises On U.S. Retail Sales Surge and Hopes of An End To Middle East War

(Updates prices.)Gold prices were down a second day midafternoon Tuesday as the dollar rose after U.S. retail sales rose above expectations last month, while talks between the United States and Iran could see an end to the Middle East war that has sent the price of oil and other commodities higher.Gold for May delivery was last seen down US$105.50 to US$4,723.30 per ounce.The U.S. Census Bureau on Tuesday said March retail sales rose by 1.7%, up from a revised 0.7% a month earlier and ahead of the consensus estimate for a rise of 1.5%, according to Marketwatch. The rise was the highest in more than three years, CNN reported, but came on a record jump in gasoline prices due to the U.S. war on Iran.Talks to end the war are expected to begin in Pakistan as a two-week ceasefire is set to end tomorrow. A deal could see an end to the closure of the Strait of Hormuz and lower high prices for oil and other commodities trapped in the Persian Gulf. However, Iran has not publicly confirmed it will send negotiators to Pakistan to meet with the United States, though the Wall Street Journal reports Iran has told mediators it will send a team to the talks."Gold is consolidating as traders assess the prospects for renewed US-Iran talks and the approaching ceasefire deadline. Its near-term trajectory remains closely linked to developments in the Middle East, given the potential spillover into inflation expectations, the dollar, bond yields, and US rate outlook," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index was last seen up 0.33 points to 98.43. Treasury yields were also higher, with the yield on the U.S. two-year note up 6.3 basis points to 3.788%, while the yield on the 10-year note was paying 4.297%, up 4.3 points.

$GCK6$GLD
Sectors

Sector Update: Consumer Stocks Ease in Afternoon Trading

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, Redbook US same-store sales rose by 6.7% from a year earlier in the week ended April 18 after a 7% year-over-year increase in the previous week. "Some retailers reported weaker year-over-year Easter sales, facing challenging comparisons to last year's pre-Easter shopping week in April," Redbook noted. Sales of home improvement items and outdoor merchandise picked up as spring began while household basics, food and consumables held steady.In corporate news, Tractor Supply (TSCO) reported Q1 results that missed Wall Street's projections amid a below-average performance of its companion animal product business. Its shares dropped past 10%.D.R. Horton's (DHI) fiscal Q2 results came in better than expected, although the homebuilder tempered its full-year revenue outlook. Its shares rose past 7%.Estee Lauder (EL) has hired JPMorgan (JPM) to come up with a financing package of about 5 billion euros ($5.88 billion) to fund its takeover of Puig, Spanish business newspaper Expansion reported Tuesday. Estee Lauder shares were down 1.4%.

$DHI$EL$TSCO
Commodities

Zelenskyy Says Druzhba Pipeline Restored, Fuel Supplies Secured for April-May

Ukraine's President Volodymyr Zelenskyy said Tuesday that the Druzhba pipeline has been restored, as Kyiv pushes for energy funding and protection of its infrastructure.Zelenskyy said in a post on X that repair work on the Druzhba oil pipeline segment damaged by a Russian strike has been completed, allowing operations to resume.He cautioned that "no one can currently guarantee that Russia will not repeat attacks," despite efforts to restore pipeline functionality and safeguard infrastructure.The pipeline restoration is linked to the expected unblocking of a European Union support package already approved by the European Council, he said.Zelenskyy added Ukraine has fulfilled its commitments under initial European Union negotiation clusters and called for continued sanctions pressure on Russia alongside efforts to diversify Europe's energy supplies.Ukraine is also coordinating closely with partners to ensure stable energy cooperation as global disruptions linked to the Iran conflict impact fuel markets, Zelenskyy added.He noted that agreed fuel supply volumes for April and May have been fully secured.Ukraine is also preparing for an Energy Ramstein meeting later this week, aimed at accelerating funding efforts for energy system recovery and strengthening protection of critical infrastructure, he added.