Unusual pre-market volume in WTI futures raises insider trading concerns ahead of a market-moving Axios report on U.S.-Iran talks.
Over $1.7 billion in front-month WTI crude futures traded in the hour before an Axios report on a potential U.S.-Iran peace deal sent oil prices lower. The 17,300 contracts exchanged before 4:50 a.m. Eastern time sparked concerns among experts about advance knowledge of the news.
The volume spike occurred primarily before 4:10 a.m., prior to the report’s publication. Energy market analysts described the activity as unusual for that hour, with some labeling it suspicious. Similar patterns were noted in prior episodes, including an April 7 event ahead of London trading hours.
The Commodity Futures Trading Commission has previously examined suspicious oil market activity linked to market-moving news events. Experts suggest the latest trades may reflect ongoing concerns about insider trading in energy markets.