Trump, the World's Largest Oil Trader
Donald Trump, described as the world's largest oil trader, used a post on Truth Social to claim "very good, productive" talks with Iran and announce a five-day pause in strikes on Iranian energy facilities. Minutes after the March 23 post, S&P 500 futures surged 2.7%, and Brent crude plummeted 13% to below $100, boosting U.S. stock market value by an estimated $1.7 trillion. Iran denied any talks, suggesting Trump manipulates oil prices weekly. Suspicious trading spikes occurred 15 minutes before the post, raising insider trading concerns, though regulators declined to comment.
This mirrors a pattern: in 2020, Trump brokered OPEC+ cuts to raise prices, benefiting oil executives who funded his campaigns. Academic research confirms his social media moves oil markets. Now, his sons profit from military contracts: Donald Jr. invested in drone firms like Unusual Machines, which secured Army deals after his father’s election. With the Iran war boosting drone demand, the family benefits whether oil rises (more contracts) or falls (political wins). Trump’s power over oil—using policy, not money—makes him a unique market force.
marsbit03/24 04:05