CME Group CEO Terrence “Terry” Duffy issued a warning to President Donald Trump’s administration following reports of possible state intervention in derivatives markets to manipulate oil prices due to the conflict with Iran.
Duffy said the Treasury Department’s attempt to manipulate oil prices Will cause a “biblical disaster”undermines the integrity of price discovery and global confidence in U.S. financial markets.
During the meeting in Boca Raton, Florida, Mr. Duffy expressed strong opposition to the government acting as an artificial trader in futures contracts.
“Markets don’t like government intervention in pricing,” the executive said, referring to measures the U.S. Treasury Department would consider. To stop rising energy costs.
For the leader of the world’s largest derivatives market, legal certainty is a pillar of international capital flows.
Geopolitical tensions with Iran are putting upward pressure on oil prices, and the White House needs to assess measures to reduce the economic impact. However, from CME Group’s perspective, This type of intervention disrupts the natural mechanisms of supply and demand.
If the U.S. government were to intervene to artificially lower prices, it would set a negative precedent. Investors recognize that the rules of the game can be changed by short-term political interests; Possible withdrawal of capital from US price indexseeking havens with more transparency and less risk of government manipulation.
Administration officials said the Treasury Department has no immediate plans to actively trade oil futures, but only mentioned the possibility. This has alarmed those involved in the financial sector.
CME Group’s CEO is not alone in that position. John McKenzie, who runs Canadian derivatives exchange TMX Group, said potential government intervention in the market “will have unintended consequences.” “When you try to solve the first problem, another problem arises. “The market will take care of itself,” he asserted.
CME Group’s position is important to the Bitcoin (BTC) ecosystem. This is because the exchange has established itself as the main institutional bridge for this asset. Through cash-settled futures contracts, CME enables hedge funds and large asset managers to use the currency to execute arbitrage and risk management strategies.
Therefore, a loss of confidence in the CME’s ability to operate the market without manipulation will also impact Bitcoin’s valuation and institutional adoption.
The urgency of Mr. Duffy and other executives’ statements coincides with a period of high volatility in global assets. So far in March 2026, WTI crude oil prices have experienced a sudden surge above the $95 per barrel barrier due to the escalation of war in the Middle East, which corresponds to an increase of more than 34% in just 13 days.
Bitcoin, on the other hand, is showing an upward trend. After an initial decline towards $60,000 due to risk aversion, the digital currency has rebounded strongly and is above $72,000 at the end of this report, according to the CriptoNoticias price calculator.
