The curious timing of oil stock trades related to Trump announcement on the war in Iran could spark a White House scandal driven by "mind-blowing corruption"

(India Today)

A large oil stock trade that happened just before President Donald Trump announced a pause on strikes in Iran shows signs of being insider trading and "mind-blowing corruption," one U.S. senator says. 

The Hill reports on what could be a brewing White House scandal under the headline "Murphy on $1.5-billion stock trade before Trump Iran announcement: 'Mind blowing corruption.'" Ashleigh Fields writes:

Sen. Chris Murphy (D-Conn.) on Monday drew attention to an unusually large oil stock trade that occurred moments before President Trump announced a five-day pause on previously threatened energy infrastructure strikes in Iran, indicating it appeared to be a case of insider trading.

In an X post highlighted by Murphy, a stock market watcher said, “In one move, $1.5 billion in S&P 500 (ES) futures was bought while $192 million in oil (CL) futures was sold.”

“$1.5 BILLION. Let me say it again – a $1.5 BILLION BET. Bigger than any futures purchases made at the time. 5 minutes before Trump’s post,” Murphy wrote in his own post. 

“Who was it? Trump? A family member? A White House staffer? This is corruption. Mind blowing corruption,” he added.

Much remains unknown about what transpired, but for now, the story revolves around numbers -- those in the stock market and those on the clock. Activity in a 16-minute window likely will become the focus of Senate investigators. What might Trump's own Department of Justice (DOJ) do about a trade emitting foul odors right under their noses. Attorney General Pam Bondi has shown she is more interested in breaking the law than enforcing the law -- so we don't look for federal "crime fighters" to do anything. Fields writes:

At least 6 million barrels of Brent and West Texas Intermediate were sold between 6:49 a.m. and 6:51 a.m. on Monday, according to Bloomberg. Trump’s post was made at 7:05 a.m. 

International markets including Germany’s DAX Index Futures and the Euro Stoxx 50 Index Futures also saw unusual spikes in trades, Bloomberg reported. 

Oil and gasoline prices had been rising globally since the U.S. and Israel began their strikes on Iran, but they dropped quickly in the wake of Trump’s Monday announcement.

Insider trading has drawn the bipartisan attention of Congress for several years. But proposed legislation largely has focused on members of Congress and their family members. Meanwhile, the best-known case of insider trading came in 2004 and involved famed "domestic diva" Martha Stewart, who was convicted on three charges related to insider training and served five months in federal prison. 

What will happen in the evolving Trump-related case? That is an unknown at the moment, but Sen. Murphy appears to be taking it seriously, and the thought of a presidential administration seeking to profit off its own war is, to use Murphy's term, "mind blowing." Could a president and/or his associates really be that reckless and greedy? From day one, especially in its second term, the Trump administration has been about breaking norms -- and usually getting away with it. Could somebody finally pay a price? We hope you will stay tuned. Let's close with final words from The Hill and Ashleigh Fields writes:

Murphy’s post draws attention to a broader concern among lawmakers about politicians and their families using their access to to make more informed trades.

Earlier this year, House Administration Committee Chair Bryan Steil (R-Wis.) introduced a bill seeking to ban members of Congress from buying new stock but allow them to keep what they already own.

It would also require lawmakers to file a public notice with the clerk of the House at least seven days before they choose to sell an existing stock. 

Last year, Reps. Chip Roy (R-Texas) and Seth Magaziner (D-R.I.) introduced a bill that would prohibit lawmakers, their spouses, dependent children and trustees from owning, buying or selling individual stocks.

Democrats have also pushed specifically for legislation that would prevent the president and vice president from insider trading. 

President Trump urged Congress to pass legislation on the matter during his State of the Union address.

On Monday, Kalshi and Polymarket said they will roll new insider trading restrictions that preemptively “block politicians, athletes, and other relevant people from trading in certain politics and sports markets.”