DOJ probing $2.6 billion in oil trades related to Iran war, sources say [View all]
Source: ABC News
The Department of Justice is investigating a series of suspiciously timed trades in the oil market just ahead of major announcements by President Donald Trump and a top Iranian official about the war in Iran, sources told ABC News.
The DOJ, along with the Commodity Futures Trading Commission, is probing at least four of these trades where traders made a total of more than $2.6 billion betting that oil prices would drop right before they did.
On March 23, 15 minutes before Trump announced that he would delay threatened attacks on Iran's power grid, traders bet more than $500 million that oil prices would fall.
On April 7, hours ahead of a temporary ceasefire announced by Trump, traders bet $960 million that oil prices would fall.
Read more: https://abcnews.com/US/doj-probing-26-billion-oil-trades-related-iran/story?id=132738007
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