Energy users demand trading oversight
The debate continues over whether speculative traders are distorting energy prices, following a letter sent by the Industrial Energy Consumers of America (IECA) to Congress last week. “Energy markets have changed drastically, and regulatory oversight, transparency and limits to rampant speculation by traders, particularly unregulated hedge funds, is needed to meet the challenge,” said the DC-based trade body in the November 17 letter.
The CFMA relaxed CFTC oversight in certain areas, one beneficiary of which was major energy exchange the New York Mercantile Exchange
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