6 Million Barrels in Two Minutes Draws CFTC Scrutiny
Published . Updated .
Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants
Directly affected
- No company is named in this report.
Indirectly affected
- FRO Frontline+4.7%
Tanker operators earn more when freight rates spike
- INSW International Seaways+0.8%
Tanker operators earn more when freight rates spike
- DHT DHT Holdings
Tanker operators earn more when freight rates spike
- TNK Teekay Tankers
Tanker operators earn more when freight rates spike
- USO United States Oil Fund+8.2%
Oil prices move when Iranian supply is at risk
- XLE Energy Select Sector SPDR+7.4%
Energy companies move with Iran supply risk
- LMT Lockheed Martin+14.2%
Defense contractors get more work when conflict spending rises
- RTX RTX-2.2%
Defense contractors get more work when conflict spending rises
- XOM Exxon Mobil+11.0%
Oil producers earn more when crude prices rise
- DAL Delta Air Lines-3.8%
Airlines pay more for fuel when oil prices jump
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| FRO | +2.38% | -1.82% | base | +3.26% | after close | after close | after close |
| INSW | +1.36% | -3.49% | base | +2.13% | after close | after close | after close |
| DHT | -2.28% | -3.23% | base | +1.78% | after close | after close | after close |
| TNK | +1.72% | -0.66% | base | +4.37% | after close | after close | after close |
| USO | -0.46% | -1.11% | base | +4.34% | after close | after close | after close |
| XLE | +0.97% | +0.55% | base | +2.57% | after close | after close | after close |
| LMT | -6.43% | -7.02% | base | +2.46% | after close | after close | after close |
| RTX | -0.33% | -0.66% | base | -1.86% | after close | after close | after close |
| XOM | +0.46% | -0.17% | base | +2.82% | after close | after close | after close |
| DAL | -4.91% | -3.24% | base | -3.15% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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6 Million Barrels in Two Minutes Draws CFTC Scrutiny Crude Oil Prices Today | OilPrice.com
Energy
| Company | When | Move | Status |
|---|---|---|---|
| COP | that day | +3.54% | final price |
| COP | three days earlier | +0.19% | final price |
| COP | five days earlier | +0.58% | final price |
| CVX | that day | +2.93% | final price |
| CVX | three days earlier | -0.41% | final price |
| CVX | five days earlier | -0.70% | final price |
| DAL | that day | -3.15% | final price |
| DAL | three days earlier | -3.24% | final price |
| DAL | five days earlier | -4.91% | final price |
| DHT | that day | +1.78% | final price |
| DHT | three days earlier | -3.23% | final price |
| DHT | five days earlier | -2.28% | final price |
| FRO | that day | +3.26% | final price |
| FRO | three days earlier | -1.82% | final price |
| FRO | five days earlier | +2.38% | final price |
| INSW | that day | +2.13% | final price |
| INSW | three days earlier | -3.49% | final price |
| INSW | five days earlier | +1.36% | final price |
| LMT | that day | +2.46% | final price |
| LMT | three days earlier | -7.02% | final price |
| LMT | five days earlier | -6.43% | final price |
| MPC | that day | -0.46% | final price |
| MPC | three days earlier | +3.35% | final price |
| MPC | five days earlier | +4.10% | final price |
| OIH | that day | +5.35% | final price |
| OIH | three days earlier | +2.09% | final price |
| OIH | five days earlier | +1.37% | final price |
| OXY | that day | +2.67% | final price |
| OXY | three days earlier | +0.70% | final price |
| OXY | five days earlier | -0.16% | final price |
| RTX | that day | -1.86% | final price |
| RTX | three days earlier | -0.66% | final price |
| RTX | five days earlier | -0.33% | final price |
| TNK | that day | +4.37% | final price |
| TNK | three days earlier | -0.66% | final price |
| TNK | five days earlier | +1.72% | final price |
| USO | that day | +4.34% | final price |
| USO | three days earlier | -1.11% | final price |
| USO | five days earlier | -0.46% | final price |
| VLO | that day | -1.63% | final price |
| VLO | three days earlier | +1.77% | final price |
| VLO | five days earlier | +4.31% | final price |
| XLE | that day | +2.57% | final price |
| XLE | three days earlier | +0.55% | final price |
| XLE | five days earlier | +0.97% | final price |
| XOM | that day | +2.82% | final price |
| XOM | three days earlier | -0.17% | final price |
| XOM | five days earlier | +0.46% | final price |
| XOP | that day | +2.44% | final price |
| XOP | three days earlier | +1.64% | final price |
| XOP | five days earlier | +1.81% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 30 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 30 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 17 Sep 2026. That is 36 days before publication. Filed 13 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold RTX, worth $100,001 - $250,000 on 31 Jul 2026. That is 84 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 53 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 84 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the energy case looks
12 out of 100
“6 Million Barrels in Two Minutes Draws CFTC Scrutiny” scores 12 out of 100. The score uses 1 sources.