CFTC Probes 6-Million-Barrel Oil Dump in Two Minutes
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The CFTC confirmed its enforcement division is examining a trade in which futures equivalent to at least 6 million barrels of crude were sold in just two minutes on March 23, moments before Trump stepped back from threats to strike Iranian power plants.
Chairman Michael Selig's disclosure adds to a pattern of unusual volatility tied to the Iran war, which has already distorted tanker markets and pushed fuel oil pricing anomalies across Asia.
For commodity traders, the episode underscores how geopolitical headline risk continues to drive outsized intraday swings in crude futures, warranting tighter risk controls around news-sensitive sessions.