Oil prices to be probed by US regulator CFTC
- added May 31, 2008
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- Monticat
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Well, it's about time!
"America's leading commodities regulator has launched an unprecedented investigation into possible market manipulation in the US crude oil market amid record prices which continue to cripple various parts of the global economy. The Commodities Future Trading Commission (CFTC), working closely with other international regulators including the Financial Services Authority in the UK, has begun a series of detailed inquiries over concerns that energy speculators are behind the rising oil price.
In a detailed statement, the CFTC admitted for the first time that it began its investigation in December, taking what it called the "extraordinary step" of disclosing the probe "because of today's unprecedented market conditions".
The CFTC declined to discuss the specifics of the investigation, but stressed that all of its enforcement inquiries were focused on "ensuring that the markets are properly policed for manipulation and abusive practices"."
By James Quinn, Wall Street correspondent
"America's leading commodities regulator has launched an unprecedented investigation into possible market manipulation in the US crude oil market amid record prices which continue to cripple various parts of the global economy. The Commodities Future Trading Commission (CFTC), working closely with other international regulators including the Financial Services Authority in the UK, has begun a series of detailed inquiries over concerns that energy speculators are behind the rising oil price.
In a detailed statement, the CFTC admitted for the first time that it began its investigation in December, taking what it called the "extraordinary step" of disclosing the probe "because of today's unprecedented market conditions".
The CFTC declined to discuss the specifics of the investigation, but stressed that all of its enforcement inquiries were focused on "ensuring that the markets are properly policed for manipulation and abusive practices"."
By James Quinn, Wall Street correspondent
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Yes, we're being manipulated - and you can thank Busheney gang and Alberto Gonzales for it.
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- VoyagerFilms
- 6 months ago
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