"On March 23rd, at 6:49 A.M. Eastern Standard Time, there was a sudden surge of trading in the futures markets, with roughly six thousand oil-trading contracts changing hands. Just after, there was a surge of activity in contracts tied to the S. & P. 500 stock index, which had been on a downward trend since the war began."
"The price of crude plunged by more than ten percent. Stock futures jumped about 2.5 percent. Whoever sold oil futures and bought stock futures had made a lot of money in a short time."
"The question is always: What are the odds they just happened to trade at the right time and got lucky? This raises concerns about the possibility of insider trading."
A surge in oil and stock futures trading coincided with Donald Trump's threats against Iran and subsequent announcements of diplomatic talks. On March 23rd, significant trading activity occurred just before Trump's social media statement, leading to a sharp decline in oil prices and a rise in stock futures. The timing of these trades raises suspicions of insider trading, as the trades appeared to benefit from prior knowledge of Trump's actions. Investigations into these trades may be warranted to determine their legitimacy.
Read at The New Yorker
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