CFTC moves to clamp down on speculation for oil, gas

The Commodity Futures Trading Commission aims to impose trading restrictions on oil and gas to prevent excessive speculation from distorting markets. The agency said the limits would apply to 10 large firms but declined to name them. "While the proposed limits err on the high side, such levels would still ensure that the very largest traders' positions, those with the greatest potential for causing market contortions, would be limited," said CFTC Commissioner Bart Chilton.

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