Reporting Sean Adams
NEW YORK (WCBS 880) — Federal regulators want to take a closer look at the recent rise and fall of oil prices.
Federal regulators aren’t sure if there’s anything fishy going on with oil prices but the recent volatility—the sharp rise and quick decline—is raising eyebrows. And Bart Schulton, commissioner with the Commodity Futures Trading Commission, said there are questions about other commodities too.
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“Anytime we see market anomalies like we are seeing currently, as I see in crude, in metals, particularly silver and even in cultural commodities. But we take an extra special magnifying glass out and look at the trades and this situation is certainly no exception to that. I can’t pre-judge what we may be finding. We have talked in the past about speculators,” Schulton said.
The commission is still working on regulations to reign in speculators to limit how much of the market they can control.