Suspicious oil transactions before Trump announcement spark outrage
A wave of sales in the oil market minutes before a Donald Trump announcement on Monday sparked suspicion among traders and policymakers, many of whom saw signs of insider trading. AFP In the space of two minutes, several thousand financial products based on the price of oil changed hands on Monday around 10:50 GMT, an unusual volume compared to the few hundred that usually trade in the same period of time.
TL;DR
- Thousands of oil-based financial products were traded minutes before Donald Trump's announcement regarding Iran.
- The volume of trades was unusually high, and participants also heavily bet on a rise in the New York Stock Exchange.
- These transactions could have generated tens of millions of dollars in profit due to the subsequent drop in oil prices and rise in Wall Street.
- Politicians and analysts have expressed suspicion of insider trading, although no direct link to Trump has been proven.
- Similar suspicious trading activities were noted in January concerning Venezuelan President Nicolás Maduro and in February related to a potential US attack on Iran.
- Critics argue these events erode market integrity and suggest a lack of strict regulation under the current administration.
- The CME and CFTC declined to comment on the matter.