Woofun AI reports that the Commodity Futures Trading Commission (CFTC) has initiated a public consultation regarding two significant structural shifts in U.S. energy derivatives markets. On June 22, CFTC Chairman Mike Selig disclosed a request for comment addressing the implementation of 24/7 trading for standard futures contracts and the introduction of perpetual contracts tied to physically delivered commodities, such as crude oil. The agency will collect stakeholder feedback over a 30-day window following publication in the Federal Register.

The first proposal evaluates whether standard futures can operate continuously without altering expiration or delivery terms, while the second examines non-expiring perpetual contracts linked to physical assets. Although perpetual structures are prevalent in digital asset markets, energy commodities present unique complexities including storage costs, transportation infrastructure, and physical settlement requirements. The Commission emphasized the need for a data-driven record to balance innovation with safeguards against market manipulation. This review follows the CFTC’s May 2026 approval of certain perpetual products, though physical commodity contracts face heightened scrutiny under existing regulations. Exchanges, brokers, and commercial hedgers are expected to submit responses assessing operational viability alongside current margin and surveillance frameworks.