According to informed sources, the top U.S. derivatives regulator is investigating a series of oil futures trades that were executed with unusually precise timing just before former President Trump's recent shift in Iran war policy.

The sources indicated that the Commodity Futures Trading Commission (CFTC) is leading an investigation into oil futures trades placed on the CME Group and Intercontinental Exchange platforms. They also stated that both exchanges have been asked to submit data.

The sources mentioned that the CFTC is examining at least two instances within approximately a two-week period where trading volumes spiked suddenly just before major policy announcements. The data requested from the exchanges by regulators includes "Tag 50" operator identification codes, which reveal the identity of the entities behind the trades.

The abnormally large trading volumes witnessed in recent weeks have raised concerns about the potential misuse of significant non-public information. Initially, the conflict triggered historic disruptions to Middle East oil shipments, causing a sharp spike in crude prices. In the subsequent weeks, oil prices experienced significant volatility as markets speculated on when shipping traffic through the Strait of Hormuz might resume.

Two Democratic senators have urged the CFTC to investigate potential wrongdoing, increasing the scrutiny on these suspiciously well-timed trades. Last month, the White House distributed an internal memo warning staff against using sensitive information for trading in financial markets or on event-betting platforms.