CFTC Probes $7B Suspicious Oil Shorts Before Trump Iran Announcements

U.S. regulators including the CFTC are probing approximately $7 billion in short positions on WTI, Brent, diesel, and gasoline futures across ICE and CME, placed minutes before President Trump's March-April 2026 Iran announcements that caused drops like 15% in Brent on April 7. Reports began May 6 with $1.7 billion (17,300 contracts) in suspicious WTI trades before an Axios U.S.-Iran deal story, dropping prices 7% to $95.08 and echoing prior incidents like $950 million on April 7. The scale dwarfs earlier $2.6 billion estimates for four dates, spurring DOJ investigations into potential insider trading.