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Stock impact report

Trump plots ‘disaster' move into oil trading [Yahoo! Finance]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Company Research Source: Yahoo! Finance
The Trump administration is considering intervening in oil markets to push down prices, despite warnings that it would risk a “biblical disaster”. Doug Burgum, the US interior secretary, said officials had discussed trading in the so-called futures markets after war in Iran saw the price of oil end last week at $103 a barrel. Mr Burgum said there “has been a discussion” about an intervention in the market, where traders buy and sell contracts agreeing on a price for oil to be delivered at a future date. “We have a lot of smart people working in this administration – a lot of smart people work in the energy trading market,” he told Bloomberg Television. The admission comes after speculation last week that the White House had already intervened in an attempt to push down prices. Oil surged to $120 a barrel in early trading last Sunday night before rapidly falling back to $90, a move many investors struggled to explain. The White House denied it was responsible for the drop, Show less Read more
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