Oil Speculators Accused of Market Manipulation
By
Kevin Fayle
on May 26, 2011
| Last updated on March 21, 2019
The Commodity Futures Trading Commission has filed a lawsuit against
several oil speculators and their agents and employees alleging that the
speculators manipulated, and attempted to manipulate, the contract
prices for crude oil derivatives. The suit, filed under the Commodity
Exchange Act, accuses the defendants of keeping prices of certain crude
oil supplies artificially high while they short-sold a series of
derivatives based on those inflated crude prices.
Oil Speculators Accused of Market Manipulation
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