CME Warning: U.S. Government Intervention in Oil Futures Market Could Trigger Epic Disaster

According to reports, the head of the Chicago Mercantile Exchange (CME) has warned that if the Trump administration attempts to suppress oil prices by intervening in the derivatives market during the conflict with Iran, it will face "a disastrous consequence." CME CEO Terry Duffy stated that if the U.S. government tries to curb the rise in crude oil prices by intervening in the futures market, it will undermine market confidence. The exchange is responsible for managing the U.S. oil futures trading market. Duffy said, "The market doesn't like government intervention in pricing." He indicated that if the government takes such actions, it could trigger an "epic disaster," as investors may then lose confidence in the market's function of setting prices for key commodities. Previous reports suggested that the U.S. Treasury is considering measures to lower oil prices, including intervening in the futures market.