The Justice Department and the nation’s top commodity market regulator are investigating a series of oil market trades that came just ahead of major policy announcements from President Donald Trump and Iranian officials, according to a source familiar with the probe.

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The statements and social media posts all pertained to the ongoing U.S.-Israeli war with Iran.

ABC News first reported the investigation earlier Thursday, although the oil trades themselves were first reported by Reuters in mid-April.

In addition to examining the oil markets for potential insider trading, the source told NBC News that investigators are also pursuing a separate probe into suspicious activity on prediction market platforms, also related to Iran war developments.

The source warned that the investigations are in their early stages and that there is no conclusive evidence yet of criminal wrongdoing.

Some of the oil trades in question happened before Trump announced he would delay attacks on Iran’s power grids, before talks of a ceasefire and ahead of key developments in the Strait of Hormuz.

Both the Justice Department and the Commodity Futures Trading Commission are looking into at least four trades where the traders made a total of more than $2.6 billion betting that oil prices would drop right before they did, a person familiar with the matter told NBC News.

The trades are said to have been placed in March and April.

The Justice Department investigation is being led by the U.S. Attorney’s Office for the Southern District of New York.

The Justice Department declined to comment on the investigation. The CFTC did not immediately respond to a request for comment.

CME Group, which owns NYMEX, the exchange on which U.S. crude oil futures trade, did not immediately respond to a request for comment.

Intercontinental Exchange, which owns the London-based exchange on which international Brent futures trade, declined to comment.

The U.K.’s Financial Conduct Authority also did not immediately comment, but it was contacted outside of normal business hours in London.