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DrumBeat: June 12, 2008

Posted on June 12, 2008

U.S., UK agencies seek oil trading limitsWASHINGTON U.S. oil futures regulators are working on a deal with their British counterparts to impose first-ever position limits on West Texas Intermediate contracts on the ICE Futures Europe exchange, a U.S. congressional source told Reuters Thursday.U.S. regulators are feeling heat from U.S. lawmakers to rein in what they see as excessive speculation in oil markets. Prices have soared 40 per cent since January to record highs near $140 (U.S.) a barrel.The deal between the U.S. Commodity Futures Trading Commission and UK Financial Services Authori...

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