The U.K.'s Treasury Select Committee last week held a hearing into the regulation of oil markets at which witnesses from the FSA, oil market ICE Futures Europe and Anglo-Dutch oil giant Shell were grilled over the key factors behind the rise in oil prices, including the role of speculation.
Oil Speculation
Shell grilled by U.K. Treasury Select Committee over role of speculation in the rise of oil prices
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U.S. Asks the U.K. to Set Limits on Oil Speculation
The Commodity Futures Trading Commission has been under increasing pressure by Congress to rein in speculation in the markets, which many believe has contributed to record-high oil and gasoline prices.
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