Middle East Economic Survey
CFTC Interim Report Exonerates Oil Market Speculators
The Interagency Task Force on Commodity Markets (ITF), formed in June by the Commodity Futures Trading Commission (CFTC) to investigate the impact of speculators on oil prices, on 22 July released its Interim Report on Crude Oil. OPEC has long held that speculation is a major contributor to recent record high oil prices. For several months members of the US Congress have added...