Ritchie Torres Calls for Probe into $500 Million in Oil Futures Trades Placed Minutes Before Iran Hostilities Pause
More than $500 million in crude oil futures trades were made in the roughly 15 minutes before a presidential announcement regarding Iran hostilities. The trades predicted a decline in oil prices and a rebound in equity markets. This activity occurred just before President Donald Trump announced a five-day delay in attacks on Iran's energy infrastructure in March via Truth Social. Rep. Ritchie Torres, D-N.Y., has called for a federal probe into the trades. Torres describes the occurrence as potentially one of the largest instances of insider trading in history.
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