WASHINGTON, April 15, 2026
The US Commodity Futures Trading Commission (CFTC) is investigating a series of oil futures trades made shortly before significant changes in former President Donald Trump’s Iran policy, according to multiple sources familiar with the matter.
The probe focuses on transactions totaling approximately $950 million placed on the CME Group and Intercontinental Exchange (ICE) platforms on March 23 and April 7, just hours before key policy announcements. The trades coincided with a US-Iran ceasefire declaration and other geopolitical shifts, raising concerns about potential insider information influencing market activity.
Suspicious Trading Patterns
Investigators are scrutinizing the timing and scale of the trades, which occurred in tight windows before major policy developments. On April 7, investors placed large bets on oil prices ahead of the ceasefire announcement, while similar activity was detected on March 23. The CFTC has not disclosed whether any individuals or entities are under suspicion, but the unusual concentration of trades has prompted a formal review.
A CME Group spokesperson confirmed the exchange operator’s cooperation with regulators, stating, "We closely monitor our markets and work closely with the CFTC." The ICE has not yet commented on the investigation.