America's LargestPosts Tagged CFTC
Oil Prices Fall for Fifth Straight Day
As of 8:55 am EST, the price of crude had declined by .81 percent to reach $78.75 a barrel and the price of heating oil had dropped by .96 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Monday’s average price per gallon): Down $0.03
Oil prices continue to drop [...]
Prediction: CFTC Will Limit Oil Speculation, and Heating Oil Prices Will Stabilize
By Josh Garrett, editor of The HEAT Zone
The Wall Street Journal reported this morning that, as part of its review of oil price volatility in recent months, the Commodities Futures Trading Commission will release a report next month that identifies speculation as the main cause of last year’s spike in oil prices.
With the CFTC hearings [...]
Amid Talk of Stricter Regulation of Oil Trades, Some Commodities Experts Defend Role of Speculators
Following the Commodities Futures Trading Commission’s announcement that it intends to tighten regulations on oil speculation, the effect of speculators on oil prices is a hot a news topic as ever.
Many have called speculators the cause of the extreme volatility of oil prices. Opponents of commodities regulation say this isn’t so, and argue that regulation [...]
Oil Traders Using UK-Based ICE to Duck US Regulations
As reported here on The HEAT Zone, Commodities Futures Trading Commission chairman Gary Gensler recently announced his agency will hold hearings to discuss potential new rules to curb rampant oil speculation. Any new regulations will affect commodities trading, but it’s unclear exactly how.
Some are guessing speculators will flee the market and will look elsewhere to [...]
With Oil Prices Falling, Signs Point to Long-Term Decline
Will the recent downturn in oil prices last? Signs are pointing to yes, according to Liam Denning’s analysis that appeared in yesterday’s Wall Street Journal.
Last Tuesday, crude oil traded at slightly above $73 per barrel; on Wednesday, a barrel cost $60. In just nine days, the price of the world’s most important commodity fell [...]
Echoing Yesterday’s CFTC Announcement, Heads of France and Britain Call for Curbing Oil Speculation
In an opinion piece in today’s Wall Street Journal Gordon Brown, prime minister of the UK and Nicolas Sarkozy, president of France, called upon other world leaders, the oil industry and the international business community to take steps toward stabilizing oil prices worldwide for the common good.
Their article points out that for the past two [...]
Oil Prices Continue to Fall on OPEC Report, Regulation Talk
As of 9:46 am EDT, the price of crude oil had fallen by 1.3 percent to $62.11 a barrel and the price of heating oil had lost 1.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Thursday’s average retail price per gallon): DOWN $0.01
The belief that the economic [...]
NYMEX Oil Trader Predicts Lower Prices for Remainder of 2009
Many prognosticators expect the price of oil to rise over the rest of the year. This makes sense, as demand for crude will most likely rise if and when the economy picks back up.
However, NYMEX trader Ray Carbone sees it differently. On Wednesday, when interviewed on CNBC, Carbone said that he expects that oil prices [...]
New Commodities Regulations Could Stop “Insider Trading” Practices of Big Investors
Politicians are continuing to eye commodities markets, seeking a way to regulate a marketplace that has a profound effect on the world economy.
Commodities trading is regulated by the Commodities Future Trading Commission. Many legislators have been discussing ways to tighten commodities regulations and the Obama administration is very supportive of these efforts.
The CFTC oversees commodities [...]
Carbon Credits Trading Could be Vulnerable to Speculators
The phrase “cap-and-trade” has entered our daily lexicon. How it works is simple: companies that emit carbon dioxide will have a permit limiting how many greenhouse gasses said company can emit. But since some companies and industries are more capable of efficiently limiting greenhouse gasses, this would create a surplus of permits. Companies with extra [...]
Read More »Calls for More Regulation of Energy Derivitives Trading Intensify
Due to the effects of the ongoing recession, demand for oil has dropped. At the same time, inventory supplies of oil have increased. Under the traditional laws of supply and demand, the price of oil should be plummeting. However, it’s doing the opposite.
The reason, many people say, is because of excessive oil speculation. And, because [...]
Sanders’ Proposal to Regulate Heating Oil Speculators Attached to Drilling Bill
The Senate Energy and Natural Resources Committee accepted a proposal authored by Vermont senator Bernie Sanders that would require oil traders to divulge resources held in offshore tankers. The committee took on the proposal yesterday, attaching it as an amendment to the current legislation that will set new policies governing oil and gas drilling in [...]
Read More »UPDATE: Geithner Says No to Merging of CFTC and SEC
Maybe it won’t happen after all.
Lawmakers who attended a private dinner with Treasury Secretary Tim Geithner said that Geithner does not support merging the Securities Exchange Commission with the Commodity Futures Trading Commission.
Those who attended the meeting wished to not have their names published as it was a private event. But Bloomberg.com reporters wrote [...]
SEC Commissioner Advocates Merger With CFTC; Move Could Help Steady Heating Oil Prices
Ever since the financial crisis placed the world in economic turmoil, pundits have discussed the possibility of major regulatory overhaul. One possibility that has been mentioned would be to combine the nation’s two biggest financial regulatory agencies into one unit.
Currently, the Commodities Futures Trading Commission (CFTC) oversees American commodities trading, including crude and heating oil; [...]
CFTC’s Investigation Looks Into Effects of Contract Sales by US Oil Fund on Crude Prices in Early February
Yesterday’s announcement of an investigation by the Commodities Futures Trading Commission helped to drive down oil prices significantly this morning, ending a three-day bull run by crude oil on NYMEX. Bloomberg.com reported on the details of the investigation, which asks the question, did buying and selling of crude contracts by US Oil Fund on February [...]
Read More »Oil Prices Slump on News of Oil Trading Investigation
News came out late yesterday that the Commodities Futures Trading Commission is investigating a crude trade made by the United States Oil Fund on NYMEX earlier this month. Analyst Olivier Jakob of Petromatrix spoke to CNBC about the investigation: “The CFTC’s investigation of US Oil Fund could put pressure on WTI because the positions [...]
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