US regulators are moving toward imposing limits on speculation in oil and other commodities. On Tuesday, the Commodity Futures Trading Commission said it would release a report next month blaming the rise in oil prices on financial speculators. That would reverse the CFTC’s stance under the Bush administration, which rejected financial speculation as a cause and instead linked a record-setting price hike to supply and demand. CFCT commissioner Bart Chilton now says that position relied on “deeply flawed data.”
Regulators: Speculation Inflated Oil Prices, Limits Considered
HeadlineJul 29, 2009