Economy

May 24, 2011 6:48 PM

Speculators charged with manipulating oil market

A group of financial speculators made $50 million by manipulating the price of oil in 2008, the Commodity Futures Trading Commission charged Tuesday. The high-profile case underscores how high prices for oil and gasoline increasingly are believed to result significantly from financial speculation rather than solely from conventional market forces of supply and demand.

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