TechFlow News, May 7: According to ABC News, sources revealed that the U.S. Department of Justice is investigating a series of suspicious oil market trades that occurred shortly before U.S. President Donald Trump made major statements regarding war with Iran. The Department of Justice and the Commodity Futures Trading Commission are examining at least four such trades, in which traders collectively bet over $2.6 billion on oil prices falling before the actual decline.
The specific trades include:
Over $500 million traded 15 minutes before Trump’s March 23 announcement postponing the attack on Iran’s power grid;
$960 million traded several hours before the April 7 announcement of a temporary ceasefire;
$760 million traded 20 minutes before Iran’s foreign minister announced the opening of the Strait of Hormuz on April 17;
$430 million traded 15 minutes before Trump’s April 21 announcement extending the ceasefire.
