US intervention in oil futures market could be disastrous: CME Group

The US government intervention to bring down oil prices would undermine investor confidence: CME Group

Terrence Duffy, CEO of CME Group, warned the administration of US President Donald Trump that any attempt to intervene in the oil futures market to lower prices during the Middle East war could lead to a “disaster.”

Speaking at a conference in Florida on March 12, Duffy said markets are wary of government intervention in price-setting, stressing that such a move would undermine investor confidence in the market’s ability to determine fair prices for commodities.

Duffy’s remarks followed media reports that the US Treasury Department is considering measures to bring down oil prices, including potential intervention in futures markets.