Government Task Force Probing Oil and Commodity Markets
The federal government formed an interagency task force to assess developments in oil and other commodity markets.
It is made up of staff from the Commodity Futures Trading Commission, the Federal Reserve, the Securities and Exchange Commission, and the departments of Treasury, Energy and Agriculture. The task force will examine oil supply and demand factors, investor practices and the role of new players in the markets, such as speculators and index traders, according to a CFTC release.
“High commodity prices are posing a significant strain on U.S. households, and the (new) interagency task force will aid public and regulatory understanding of the forces that are affecting the functioning of these markets,” the CFTC said in the release.
The CFTC, which regulates U.S. futures markets, began a wide-ranging investigation in December of U.S. oil markets, with a focus on possible price manipulation.
