Strait of Hormuz Oil Bet Probe

The Commodity Futures Trading Commission has been urged to examine unusual trading patterns in oil futures that occurred on March 23 and April 7.

The senators suggest that certain traders may have had non-public knowledge of the administration's military and diplomatic plans.

The White House has since issued a warning to its own staff against insider trading on prediction markets.

These allegations of market manipulation come as the Iran war continues to drive extreme volatility in global energy prices.