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COMMENTS: How Much Does That Barrel Cost?
CBS' Armen Keteyian continued on an alphabet-soup kind of a day with the CFTC. Usually the Commodities Futures Trading Commission would stand no chance of qualifying for a mention outside the niche programing of CNBC. Keteyian made the financial regulator relevant by tracing the rollercoaster cost of a barrel of crude oil: from $147 this time last year to $34 in December to $60 right now. "Oil speculators are at it again," he feared, "pumping an estimated $200bn into the oil futures market in just the last year." To smooth out fluctuations, the CFTC may now put limits on the size of bets in the commodities markets and insist on more transparent reporting of those positions.
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