Crude Oil Manipulation Suit May Spur Debate on Speculation Rules
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A U.S. lawsuit against two traders and three firms that allegedly manipulated prices for crude oil derivatives in 2008 may bolster calls for new speculative trading limits required by the Dodd-Frank Act.
The Commodity Futures Trading Commission claimed in its suit that the alleged scheme generated $50 million in unlawful profits and pushed crude oil prices higher nationwide.