US CFTC: Closely Monitoring Abnormal Trading in Crude Oil Futures Market

Odaily News The U.S. Commodity Futures Trading Commission (CFTC) enforcement chief David Miller said on Tuesday that the agency is monitoring trading in the crude oil futures market for any unusual activity. When asked about the related trades, Miller stated, "I can't comment on what we are or are not investigating. I can only say we are watching closely." According to foreign media reports, around 7:05 AM local time on March 23rd, U.S. President Trump posted on his social media platform about delaying strikes against Iran. In the short period before this, crude oil futures trading volume surged. According to exchange data compiled by institutions, within two minutes starting at 6:49 AM New York time that day, financial contracts related to at least 6 million barrels of Brent and WTI crude oil were sold. In the same time period over the previous five trading days, the average trading volume was about 700 lots (equivalent to 700,000 barrels). (Jin10)