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News // Markets & Stocks

U.S. CFTC Trace Oil Prices Jump Reasons

23 September 2008 , 10:03Ksenia Kochneva1363
During the auction oil prices jumped up $25 to get the maximum in NYMEX history.

As CFTC reported it will strictly watch the situation and will not allow anyone take advantage of financial market stress in U.S. to get enormous profits, Echo of Moscow web source says.

CFTC is an independent supervision agency which was created by U.S. Congress in 1974 to regulate futures and option contracts markets.

It consists of 5 people appointed by the U.S. President and approved by the Senate. Members of CFTC have to belong to different parties.

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