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Friday, October 23, 2026Updated 19:22 UTC

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6 Million Barrels in Two Minutes Draws CFTC Scrutiny

Source: OilPrice.com · Oct 23, 2026 17:20 UTC

Oil refinery towers and pipes with a city skyline in the distance — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants. Now, the federal regulator overseeing those trades says it has been looking into the activity. Commodity Futures Trading Commission Chairman Michael Selig said Friday that the agency's enforcement

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