Chu: U.S. to investigate effect of speculation on oil markets

02/22/2010 | Google · Hill, The

Energy Secretary Steven Chu said the U.S. wants to probe how hedge funds and other speculators cause instability in oil markets. Such practices, which were linked to soaring oil prices two years ago, affected economies and disrupted consumer and supplier planning, he added. The country will try to determine "how much has the volatility been increased by large financial institutions taking positions," Chu said during a speech in Saudi Arabia.

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Google · Hill, The

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