Speculator restrictions
Federal regulators plan to place stricter limits on foreign exchanges that trade U.S. oil, due to concerns about speculation in rising fuel prices. The Commodity Futures Trading Commission said it will require London-based ICE Futures Europe exchange to adopt position limits, used in the U.S., for trading West Texas Intermediate oil contracts.
Meanwhile, light, sweet crude for July delivery fell $0.60 to settle at $134.01 a barrel on the Nymex, up 35% since the beginning of the year.
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