June 15, 2008

Futures Trading - Bill would rein in trading in energy futures - San Francisco Chronicle- Topic: Futures News

As gas prices continue to soar, Congress is preparing to rein in speculative trading in energy futures markets by major institutional investors and hedge funds, which is seen as a key factor in driving up oil prices. Energy expert Daniel Yergin has said, "Oil has become the 'new gold' - a financial asset in which investors seek refuge as inflation rises and the dollar weakens. The Feinstein-Stevens bill would require the commodities commission to review the trading practices of these major investors within 30 days to make sure that speculation is not undermining the markets. The commission announced last month that it plans to increase its monitoring of traders and investors in commodity markets to "ensure that the U. read more

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