Media: Suspicious oil bets before Trump's Iran moves trigger US investigation

The US Department of Justice has launched an investigation into more than $2.6 billion in oil trades that were executed shortly before key announcements by Donald Trump related to the Iran war, according to a report by ABC News.

The report, published Thursday, said the Department of Justice, alongside the Commodity Futures Trading Commission, is reviewing at least four trades in which investors placed substantial bets that oil prices would fall. These trades occurred ahead of major policy updates from Trump concerning the conflict with Iran, including ceasefires, delays in military action, and developments related to the Strait of Hormuz.

Authorities have not publicly commented on the trades. The report noted that available data, including information from the London Stock Exchange Group, does not identify the traders involved and does not establish that insider trading took place.

According to ABC News, one of the transactions involved a bet exceeding $500 million that oil prices would decline. This trade was placed on March 23, approximately 15 minutes before Trump announced a delay in planned attacks on Iran’s power grid.

Another major trade, valued at $960 million, was executed on April 7, just hours before Trump revealed a temporary ceasefire, the report said.

The investigation comes amid growing scrutiny over whether non-public information regarding US policy decisions during the Iran war may have been used to gain an unfair advantage in oil markets.

Earlier reports had already indicated that the Commodity Futures Trading Commission was examining unusual trading activity in oil futures ahead of key shifts in Trump’s Iran policy, including the trades on March 23 and April 7.

The probe is focused on oil futures contracts traded on platforms operated by CME Group and Intercontinental Exchange.

Oil prices have experienced significant volatility since the onset of the US-Israel war with Iran, reacting sharply to developments such as attacks on energy infrastructure, ceasefire announcements, military pauses, and disruptions around the Strait of Hormuz.

The Strait of Hormuz remains one of the world’s most critical energy transit routes, linking the Persian Gulf with global markets and serving as a key corridor for shipments of crude oil, petroleum products, and liquefied natural gas from major Gulf producers.

US lawmakers have called for increased oversight, warning that sensitive government decisions related to war and diplomacy can create opportunities for market abuse if confidential information is misused.

By Tamilla Hasanova