Oil trades surged before Trump's Iran post. Some experts are suspicious.
CBS News
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Tuesday, March 24, 2026
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Washington, DC, USA
Financial markets experts are raising concerns about possible insider trading after an unusual spike in oil futures trading only minutes before President Trump announced talks with Iran on Truth Social. Between 6:49 a.m. and 6:50 a.m. on Monday, about 6,200 Brent and West Texas Intermediate futures contracts changed hands, with a notional value of $580 million. The average trading level for the same time period over the previous five trading days was about 700 contracts. Minutes later, at 7:00 a.m., Mr. Trump posted about 'productive' peace talks, causing oil prices to tumble and the Dow to surge 1,000 points. Experts suggest the timing is 'highly suspicious' and warrants investigation by the CFTC. The event follows other questionable trades on prediction markets like Polymarket involving geopolitical strikes and leadership changes.