CFTC seeks public input on 24/7 trading for energy derivatives

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.

This isn’t the agency’s first pass at these ideas. The CFTC issued staff-level requests for comment back in April 2025 on both 24/7 trading feasibility and perpetual derivatives. This latest move escalates the conversation from exploratory to something closer to formal rulemaking groundwork.

Crypto’s fingerprints are all over this

In May 2026, the CFTC approved crypto perpetual futures products on platforms including Coinbase Derivatives and Kalshi. Those approvals effectively gave the regulatory green light for a contract type that had previously existed mostly in the offshore, less-regulated corners of the crypto world.

Now the question is whether that same logic extends to traditional commodities. Physical delivery and storage add layers of complexity that don’t exist with digital assets. But the core appeal, continuous price exposure without rollover costs and expiration risk, translates across asset classes.

What this means for investors

If 24/7 energy futures trading becomes reality, traders who currently hedge energy exposure during limited windows would gain the ability to respond to overnight developments in real time. Institutional participants would likely need to invest more heavily in automated trading systems and round-the-clock monitoring infrastructure.

Perpetual contracts on energy commodities could open up an entirely new category of trading strategies. Without expiration dates forcing periodic contract rolls, traders could maintain positions more efficiently. That’s particularly relevant in energy markets, where contango and backwardation dynamics make rolling futures expensive and strategically complex.

The CFTC’s emphasis on operational risk management in its request suggests the agency is aware of liquidity concerns during off-peak hours. How the 30-day comment period shakes out, and what industry participants actually report about feasibility, will determine whether these proposals gain momentum or stall.

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