The US derivatives regulator plans to block CME Group's attempt to self‑certify a 24/7 10‑barrel WTI futures contract, arguing the energy market is not ready for round‑the‑clock derivatives. CFTC Chair Michael Selig has met executives from Shell, Vitol, BP and Exxon Mobil in recent weeks to gauge industry readiness.

On Wednesday CME filed the self‑certification, giving the CFTC one day to intervene before listing. A separate 45‑day review remains open. The regulator fears rapid approval would immediately open the door to larger contracts that could strain market infrastructure during hours when traditional markets are closed. The clash adds to CME's lawsuit against the CFTC over its May approval of crypto perpetual derivatives.

Retail interest in oil surged during the US‑Iran war, and offshore venues such as Hyperliquid have seen heavy volume in leveraged oil perpetuals on weekends when US markets close. Analyst Jorge Montepeque says 24/7 trading makes sense but warns liquidity remains uncertain.