6 Million Barrels in Two Minutes Draws CFTC Scrutiny
Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants. Now, the federal regulator overseeing those trades says it has been looking into the activity. Co
Source: OilPrice.com
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DW NOTE
The CFTC is investigating a 6-million-barrel order that hit the market in two minutes. With the Strait of Hormuz effectively closed and WTI already up 67% year-over-year, that's not a hedge — that's someone with information or someone creating information. Either way, the regulators are late.