We are talking about a draft strategy for cooperation with OPEC + countries prepared by Russia, writes Bloomberg. US regulator finds out if traders could earn “hundreds of millions” by gaining access to non-public data
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The US Commodity Futures Trading Commission (СFTC) is finding out whether non-public information about the negotiations of OPEC + countries in March could get to traders ahead of time. About it informs Bloomberg with reference to sources familiar with the situation. According to them, the FBI and the US State Department joined the investigation.
The agency’s interlocutors, on condition of anonymity, said that it was a possible leak of data on a draft strategy for interaction with other OPEC + members prepared by Russia. According to them, the commission is interested in whether traders who had insider information about the negotiations could earn “hundreds of millions of dollars from illegal rates on oil price fluctuations.”
The identities of traders have not been established, however, as the agency’s interlocutors note, “they are not Russian officials.” At the same time, according to one of the sources, “people who place bets attract people associated with the Kremlin.”
According to another source, the CFTC check concerns operations on the CME Group (which includes the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Commodity Exchange, which trades WTI oil).