The Car and Truck Fleet and Leasing Management Magazine

Regulators Investigating Oil Market

June 02, 2008

WASHINGTON, D.C. --- Federal regulators have launched a probe into whether large institutional funds that have bought up futures contracts for oil and other commodities may have skewed the market and contributed to higher gasoline retail prices, the Los Angeles Times reported.

On Thursday, May 29, the Commodity Futures Trading Commission revealed it had opened an investigation of major investors, including pension funds and commodity index funds, in December. The commission said it had reached agreements with an overseas commodity exchange to share data about buyers and sellers, the Times reported.

In a released statement, the commission said: "All Americans are significantly affected by high energy prices -- whether it's paying more at the pump or higher costs for farmers and entrepreneurs."

Earlier in May, 22 senators sent a letter to the commission requesting such an investigation into new investors. Normally, the commission doesn't disclose its ongoing investigations. But commissioners said they were making an exception this time because of "recent dramatic increases in the price of crude oil."

Major investors, such as pension funds, have moved into the commodities markets through the use of index funds that invest in futures contracts and securities tied to them. The commission probe will in part look into whether institutional investors have played a major role in the run-up of oil prices.


Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

Propane is produced from both natural gas processing and crude oil refining, in roughly equal amounts from each source. In the fleet industry, it can be used as a vehicle fuel.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher