CFTC Convenes – Puts Commodity Futures Trading Under the Microscope
On June 10th, the Commodity Futures Trading Commission (CFTC) called a public meeting of its Energy Markets Advisory Committee to address continually exponentiating oil prices. Representatives from major investment banks such as Goldman Sachs, JPMorgan, and Morgan Stanley fielded questions regarding their banks' roles in the oil futures market for the first time under the public eye. Many groups have raised suspicion as to whether the banks are using investors' funds to bid up oil prices, while at the same time issuing predictions that prices will rise. Donald Casturo, managing director of Goldman Sachs, stated: "There is a clear separation…