Insider: US investigates precise oil trades before Trump's shift on Iran policy.

A source familiar with the matter said on Wednesday that the U.S. Commodity Futures Trading Commission is investigating a series of crude oil futures trades that took place before President Trump made a significant shift in his Iran war policy. CFTC Chairman Tarbert is expected to testify before Congress on Thursday, stating that the agency will hold violators accountable, but did not mention any specific investigations in his testimony. A spokesperson for the agency declined to comment. In a speech seen by the media, Tarbert stated, "Let me be clear: for anyone engaged in fraud, manipulation or insider trading in our markets: we will find you, and you will face severe consequences under the law." The investigation by CFTC is reportedly focusing on crude oil futures contracts traded on the Chicago Mercantile Exchange and the Intercontinental Exchange, with investigators examining at least two trades that occurred on March 23rd and April 7th. These precisely timed trades may have generated profits in the millions of dollars, raising concerns among lawmakers and legal experts about the potential for abuse in the volatile and opaque derivative markets surrounding decisions on war and diplomacy. Just hours before the U.S. and Iran announced a ceasefire last week, investors made a roughly $950 million bet against oil prices. On March 23rd, prior to Trump's announcement of delaying strikes against Iran, the oil market also saw well-timed trades.