The Commodity Futures Trading Commission is asking a deceptively simple question: should energy futures trade around the clock, seven days a week, the same way crypto does?
On June 22, the CFTC formally requested public comments on two proposals that could reshape how energy derivatives work in the US. The first would allow standard futures contracts, including energy futures, to trade 24/7 without changing their existing expiration, delivery, or settlement terms. The second explores whether perpetual-style contracts, a product born in crypto markets, should be listed for physically delivered or storable commodities like crude oil.
What the CFTC is actually proposing
The perpetual contract piece is arguably more interesting. Perpetual contracts are derivatives that never expire. Unlike traditional futures, which have a set date when they settle, perpetuals just keep rolling. They’re the dominant instrument in crypto trading, where platforms process billions of dollars worth of them daily. The CFTC is now exploring whether that same structure could work for something as tangible as a barrel of crude oil.
CFTC Chairman Michael S. Selig framed the inquiry around gathering “data-driven insights” to balance innovation with market integrity. The comment period will run for 30 days once the request is published in the Federal Register.
