Rep. Ritchie Torres asked the SEC and CFTC to investigate large oil futures short positions placed before Trump announced a two-week U.S.-Iran ceasefire, after Brent and WTI opened sharply lower.
Rep. Ritchie Torres urged the SEC and CFTC to investigate suspicious trading tied to major oil futures short positions placed shortly before Trump announced a two-week U.S.-Iran ceasefire. According to the new report, one trade involved a $950 million oil futures short opened hours before the announcement, and Brent and WTI futures later opened about 15% lower, falling below $100. Reuters also cited a similar $500 million trade on March 23. Torres said regulators should examine the speed, scale and structure of the activity and review account records linked to the trades.