From The Hellenic Shipping News:
US to curb excessive speculationMore at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=13151&Itemid=79
Comment: The way things are going these days, this particular subject is going to be one of very profound interest, hence the new thread to track the news and discuss what's going on. This newsbit just kicks it off.
This whole piece of legislation looks to me like the mice voting to bell the cat. Congress may be able to put the brakes on what happens in New York, but speculators in London, Hong Kong, and Tokyo are hardly bound by U.S. law.
As of the time I post this, oil is trading at the following rates:
Crude: $130.04
Brent Light Sweet Crude: $132.27
US to curb excessive speculation
quote:
In a big win for the US futures industry, new Senate legislation unveiled yesterday would not impose higher margins on oil traders but would still aim to rein in excessive speculation in energy markets. Futures markets participants had feared that earlier legislation introduced by Sen. Byron Dorgan to boost significantly the amount of money, or margin, that speculators would have to put up to trade oil futures would make it into a anti-speculation bill from Senate Democratic leaders.
Comment: The way things are going these days, this particular subject is going to be one of very profound interest, hence the new thread to track the news and discuss what's going on. This newsbit just kicks it off.
This whole piece of legislation looks to me like the mice voting to bell the cat. Congress may be able to put the brakes on what happens in New York, but speculators in London, Hong Kong, and Tokyo are hardly bound by U.S. law.
As of the time I post this, oil is trading at the following rates:
Crude: $130.04
Brent Light Sweet Crude: $132.27