U.S. DOJ and CFTC Launch Investigation Into $2.6B Suspicious Oil Trades Ahead of Trump Iran Announcements

According to BlockBeats, on May 7, the U.S. Department of Justice and CFTC launched an investigation into a series of suspicious oil market trades worth over $2.6 billion that occurred shortly before Trump's major announcements regarding Iran. Traders bet oil prices would fall, and prices subsequently declined as predicted.

Data from the London Stock Exchange Group shows the investigation involves at least four major trades. The transactions occurred 15–20 minutes before key announcements: $500 million on March 23 before Trump delayed attacks on Iran's power grid; $960 million on April 7 before a ceasefire announcement; $760 million on April 17 before Iran's foreign minister announced the Strait of Hormuz would remain open; and $430 million on April 21 before Trump extended the ceasefire. Trader identities remain unconfirmed, and no insider trading has been proven. Neither the DOJ nor CFTC has commented, and the investigation is ongoing.