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Regulators: Speculation Inflated Oil Prices, Limits Considered

HeadlineJul 29, 2009

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.”

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