White House Dismisses Insider Trading Claims in Oil Market

Some trading entities profited millions of U.S. dollars from trades in oil futures contracts on Monday, just 15 minutes before U.S. President Donald Trump posted about “very good and productive conversations” with Iran, which sparked a relief rally and made market observers question the suspiciously well-timed oil trades. Oil futures plunged by 10% on Monday morning ET after President Trump said he would postpone expected strikes on Iran’s power plants and energy infrastructure for five days, pending negotiations that would…