The Justice Department has reportedly launched an investigation into a series of suspiciously timed oil market trades that occurred just before significant announcements concerning the conflict with Iran by both former President Donald Trump and Iranian leaders. According to ABC News, citing anonymous sources, four such trades made in March and April alone generated over $2.6 billion for traders.
This DOJ probe follows closely on the heels of a separate investigation by the Commodity Futures Trading Commission (CFTC) into at least two of these same trades from March and April.
Investigators are scrutinizing at least three instances where substantial bets were placed on oil prices immediately preceding major announcements by Trump regarding extensions of ceasefires with Iran. Additionally, at least one trade is under examination that occurred just before Iranian Foreign Minister Abbas Araghchi declared the reopening of the Strait of Hormuz.
Among the trades drawing attention, two were initially flagged by the CFTC and reported by Reuters. On March 23, traders made a bet worth approximately $500 million predicting a fall in oil prices and a rise in stock futures. This occurred roughly 15 minutes before Trump posted on Truth Social, announcing a postponement of impending attacks on Iran’s power plants and infrastructure. A similar bet, valued at around $950 million, was placed on April 7, shortly before the U.S. and Iran announced a two-week ceasefire.
ABC News has identified two additional suspicious trades now reportedly under review by the Justice Department. The first took place on April 17, with traders placing about $760 million in bets approximately 15 minutes before Iran’s foreign minister, Araghchi, announced the reopening of the Strait of Hormuz. The second occurred on April 21, minutes before another Trump post on Truth Social, this time extending the ceasefire with Iran. While data from the London Stock Exchange was cited by ABC News, it does not identify the traders involved or definitively prove these instances as insider trading.
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