May be revealed by the investigation
NEW YORK (CNNMoney.com)—some believe that rising oil prices are due to nothing but widespread speculation, on Thursday, the U.S. government declared about an extensive investigation regarding oil price manipulation. The government also announced that it would get further information for investors’ effect on the market.
Commodity Futures Trading Commission (CFTC) pledged to take these measures after having enormous pressure from heated lawmakers. The measures will do two things.
At first more information from non-commercials users of oil and index funds will be gathered. Information, regarding oil trade outside the U.S. on exchange as Intercontinental Exchange Europe (ICE) where Commodity Futures Trading Commission (CFTC) has no supervision and doesn’t have detailed information, will be gathered.
Secondly, it will be CFTC’s strategy to carry out an actual investigation regarding possible price manipulation that is possible from a commercial user of oil like production company storage or shipping company.
