EU commodity position limits prove tricky to hammer out

Energy companies worried by lack of detail on how Mifid II rules will work

Commodities trail
Politicians on both sides of the Atlantic are eager to rein back speculation in commodity markets

Irrespective of whether financial trading helps oil the wheels of markets or contributes to oil's collapse, politicians on both sides of the Atlantic are eager to rein back speculation in commodity markets. And in both cases, that has led to proposals for position limits on commodity derivatives.

In the European Union, a new package of financial markets legislation named Mifid II entered into force on July 2 last year, including an updated directive and a regulation. Among other things, the legi