Skip to main content

CFTC's Oil Manipulators Pushed Prices Downward

  • Author:
  • Updated:

Let's see if we have this straight. The big market manipulation bust by the CFTC today involved three guys who tried 19 times to manipulate the markets and maybe succeeded only five times. Also: three of those times they actually manipulated the price downward! And their total take from market manipulation came out to $1 million.
So much for all that blather about mysterious speculators and manipulators being responsible for the escalated price of oil.

CFTC Charges Optiver Holding BV, Two Subsidiaries, and High-Ranking Employees with Manipulation of NYMEX Crude Oil, Heating Oil, and Gasoline Futures Contracts