A senior adviser to CFTC Chairman Michael Selig reportedly directed investigators to withdraw an enforcement referral involving billions of dollars in suspicious trades placed about 15 minutes before President Trump’s March 23 announcement on Iran. Bloomberg reported that Mel Gunewardena ordered the withdrawal after traders positioned for falling oil prices and rising equities ahead of Trump’s Truth Social post. The CFTC had identified irregular trading patterns and referred the activity to its enforcement division. After Trump announced the cancellation of planned strikes on Iranian infrastructure, oil prices fell 14% while U.S. and European stock markets surged 4%. One cited case involved roughly $950 million in oil bets.