Did insiders short oil before Trump backed down on Iran?

After Bloomberg broke the news of a senior adviser to the chairman of the Commodity Futures Trading Commission (CFTC) intervening in an oil insider trading investigation, social media immediately accused well-connected insiders of using political access and financial derivatives to suppress the price of oil. According to oil analyst Paul Sankey, either the administration leaks or “somebody very close to the administration is insider trading.” Meanwhile, Energy Aspects derivatives head Tim Skirrow believes “either someone got very lucky or knew something,” and a Dallas Fed survey respondent wrote , “Our hypothesis is the [oil] paper market is being manipulated.” Year-to-date…

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