Senators Demand CFTC Probe Into Oil Market Trades Tied to White House Iran Moves
Trading activity in oil markets since March 23 resulted in lucrative gains for traders who positioned themselves before White House decisions on Iran, Venezuela, and tariff impositions. Senators Elizabeth Warren and Sheldon Whitehouse sent a letter to the CFTC on Thursday calling for an investigation into these unusually large commodity and equities trades. The senators requested that the CFTC provide answers to questions regarding market surveillance and investigative steps. This follows a query from Senators Mark Warner and Adam Schiff to the SEC and Defense Department Inspector General regarding similar trading activity. The CFTC enforcement director stated last month that policing insider trading is a priority.
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