Cftc Turns Attention To Oil As High Price Forces Agency To Ramp Up Marker Oversight

摘要

Turning its attention from natural gas to oil, the Commodity Futures Trading Commission last week unveiled a plan to increase transparency and oversight of energy futures trading, particularly of crude oil contracts, where skyrocketing prices have triggered a backlash from lawmakers and consumers.rnThe CFTC has come under heavy pressure from those on Capitol Hill who blame some of the high price of oil on rampant speculative trading. The commission's proposal comes after focusing much of its attention this year on increasing oversight of over-the-counter natural gas trading.rnAmong the CFTC initiatives is an agreement with the UK Financial Services Authority and ICE Futures Europe to enhance information-sharing between the two agencies for energy commodities, including the West Texas Intermediate crude oil futures contract, which trades on UK-regulated ICE Futures Europe and settles off the traditional NYMEX crude oil contract.rnThe agreement would immediately provide the CFTC with daily large-trader positions on ICE's WTI contract and will expand the information to include all contract months, not just the front months.