These Firms Made More Than $15 Million On Oil Trades Right Before Trump Iran War Announcement, Report Says

BreakingBusinessBreaking NewsThese Firms Made More Than $15 Million On Oil Trades Right Before Trump Iran War Announcement, Report SaysByZachary Folk,Forbes Staff. I cover breaking news.Follow AuthorMay 20, 2026, 09:31am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineThe Commodity Futures Trading Commission is looking into oil futures trades made by at least three previously unreported firms on March 23, just before Trump announced a ceasefire extension with Iran, the Wall Street Journal reported.The CFTC is examining firms that placed trades timed to a Trump social media post on March 23.SOPA Images/LightRocket via Getty ImagesKey FactsRegulators are reportedly interested in trades made by Qube Research & Technology, Totsa (the trading wing of French oil company TotalEnergies) and Forza Fund Ltd—while the investigation was reported earlier this month, the companies were previously unreported.Trades on March 23 netted Qube $5 million, Totsa $200,000, and Forza Fund about $10 million, according to documents reviewed by the Journal—just a small portion of the reported $800 million that circulated that day.The firms have not been accused of wrongdoing and did not confirm they were under investigation to the Journal, and Forbes has reached out to Qube and Totsa for further comment on the reported regulatory scrutiny.This is a breaking story and will be updated.Got a tip? Share confidential information with Forbes.Editorial StandardsReprints & PermissionsLOADING VIDEO PLAYER...FORBES’ FEATURED Video