US CFTC investigates suspicious Iran oil trading

The US Commodity Futures Trading Commission (CFTC) is investigating suspicious oil trading activity related to tensions between the US and Iran. CFTC Enforcement Director David Miller confirmed at a New York conference that the agency has been probing this activity from the beginning and that the investigation remains open.

This follows reports suggesting a political appointee may have attempted to retract a referral regarding suspicious trading linked to a previous US decision concerning strikes on Iranian power plants. The agency is also scrutinizing prediction markets for problematic trading, specifically regarding election outcomes. Miller noted that staff have investigated, and may have ongoing investigations into, certain candidates who placed trades on contracts based on their own elections.