The U.S. Commodity Futures Trading Commission (CFTC) is considering blocking the Chicago Mercantile Exchange's (CME) proposal to launch 24/7 oil futures contracts. A senior CFTC official expressed concerns that round-the-clock trading could exacerbate volatility during geopolitical tensions. CME announced plans last week to introduce these continuous trading contracts for oil and gold, surprising the CFTC. The new oil contract, a tenth of the existing micro WTI futures, is set for an August 30 launch pending regulatory review. CME's CEO recently voiced concerns over CFTC's approach to cryptocurrency perpetual contracts, highlighting the need for careful asset evaluation.