CME Group (CME) Chief Executive Terry Duffy said the Trump administration would risk a "biblical disaster" if it tried to reduce oil prices by intervening in derivatives markets amid the ongoing US-Israel war with Iran, the Financial Times reported Thursday.
"Markets do not like it when governments intervene in pricing," Duffy reportedly said at a conference.
A recent report suggested the US Treasury was contemplating measures to reduce oil prices, including intervention in futures markets, according to the FT.
CME didn't immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Comments