CFTC report blames speculators for oil price swings: report

(Reuters) – The U.S. Commodity Futures Trading Commission (CFTC) is planning to issue a report next month that suggests that wild swings in oil prices were significantly driven by speculators, the Wall Street Journal reported on its website on Tuesday.

A 2008 report by the main U.S. futures-market regulator that attributed oil-price swings primarily on supply and demand was based on “deeply flawed data,” Bart Chilton, one of four CFTC commissioners, told the paper in an interview on Monday.

Reuters