The Commodity Futures Trading Commission (CFTC), a US commodities regulator, is analyzing what led the crude oil price to move into negative territory last month, including an assessment of market participant activities and whether position limits and other regulations might need to change.
The move could add impetus to the CFTC's proposal to impose federal position limits in 25 energy, metals and non-legacy agricultural products for the spot months, which is being evaluated by its Energy and Environmental Markets Advisory Committee (EEMAC). The comment period for the proposed position limits, which would not apply to bona fide hedging activity, ends on May 15."We must carefully examine the trading data and market participant activities on and around April 20. A...