CFTC to examine crude oil volatility

During the largest ever one day gain on Monday, WTI prices spiked $25 to $130 per barrel on the last day of the New York Mercantile Exchange (Nymex) October oil futures contract. The contract ended at $120.92, up $16.37.

The price move led the US Commodities Futures Trading Association (CFTC) to announce that it would be monitoring the oil markets even more closely for signs of manipulation following the volatility.

“CFTC surveillance and enforcement staff are closely monitoring today’s

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