The Commodity Futures Trading Commission (CFTC) announced yesterday that it is taking several steps to address the skyrocketing price of crude oil. Among them was the announcement that the CFTC is six months into an investigation of crude oil trading. In addition to the ongoing investigation, the CFTC said it has reached agreements with British and European regulators that would bring transparency to trading activity regulated by authorities overseas.
This announcement follows intense pressure from Congress on the CFTC to increase oversight and bring transparency to unregulated markets.
BRANDON WRIGHT 