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The US Department of Justice Investigates $2.6 Billion Oil Insider Trading

1 hours ago

On May 7, the U.S. Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) launched a joint investigation into a series of suspiciously timed oil market trades. The trades occurred shortly before former President Donald Trump made key statements on U.S.-Iran tensions, with traders collectively wagering over $2.6 billion on falling oil prices—an outcome that materialized. London Stock Exchange Group data shows the probe covers at least four large trades; traders’ identities remain unknown, and no insider trading evidence has been uncovered. Key trades include: - March 23: A $500M+ trade placed 15 minutes before Trump announced delaying an attack on Iran’s power grid. - April 7: A $960M trade occurred hours prior to a temporary ceasefire announcement. - April 17: A $760M trade made 20 minutes before Iran’s foreign minister said the Strait of Hormuz would open. - April 21: A $430M trade executed 15 minutes before Trump announced extending the ceasefire. The DOJ and CFTC have declined to comment, noting the case remains under active investigation.
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