US energy firms brace for position limits

Regulatory uncertainty

Last week, the US Commodities Futures Trading Commission signalled that it would take a hard line against Wall Street's efforts to thwart a new rule to impose position limits on futures and swaps in 28 commodities, including oil and gas. On January 4, the CFTC asked a federal court to dismiss a legal challenge by two industry groups who had accused the commission of making procedural mistakes in the rule-making process. Separately, in a 3-2 party-line vote, the CFTC rejected an appeal from the

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