These Firms Made More Than $15 Million On Oil Trades Right Before Trump Iran War Announcement, Report Says
Key takeaways
- Breaking News These Firms Made More Than $15 Million On Oil Trades Right Before Trump Iran War Announcement, Report Says By Zachary Folk,
- Trades on March 23 netted Qube $5 million, Totsa $200,000, and Forza Fund about $10 million, according to documents reviewed by the Journal—just a small portion of the reported $800 million that circulated that day.
- The firms have not been accused of wrongdoing and did not confirm they were under investigation to the Journal, and Forbes has reached out to Qube and Totsa for further comment on the reported regulatory scrutiny.
Breaking News These Firms Made More Than $15 Million On Oil Trades Right Before Trump Iran War Announcement, Report Says By Zachary Folk,
Topline The Commodity Futures Trading Commission is looking into oil futures trades made by at least three previously unreported firms on March 23, just before Trump announced a ceasefire extension with Iran, the Wall Street Journal reported.
The CFTC is examining firms that placed trades timed to a Trump social media post on March 23.SOPA Images/Light Rocket via Getty ImagesKey FactsRegulators are reportedly interested in trades made by Qube Research & Technology, Totsa (the trading wing of French oil company TotalEnergies) and Forza Fund Ltd—while the investigation was reported earlier this month, the companies were previously unreported.