May

30

US oil probe focusing on price manipulation

Filed Under Business | Posted By Jennifer Sullivan | Leave a Comment

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On Friday the Wall Street Journal reported ,’’ A US regulatory probe into oil trading and is stressing on short-term maangement of benchmark crude prices and the use of information linked to essential oil storage tanks to influence prices.’

The newspaper has quoted that people are aware of enforcement priorities of the Commodity Futures Trading Commission and said that the CFTC is doing many oil investigations and most of those are related to one another.

‘’It would improve the insepection of energy trading by tracking index funds and had an agreement with the U.K.’s Financial Services Authority and ICE Futures Europe for exchanging information on power contracts’’, said the US futures market regulator.

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