So-called net long speculative positions fell to 25,867 contracts on the
Mercantile Exchange during the week ending May 27, from a record 127,491 on
July 31, according to a report of May 30 of the committee negotiating futures
raw materials from USA (CFTC in its acronym in
The fall could complicate the investigation of the CFTC now that regulators are
trying to determine how much of the rise of oil over U.S. $ 135 a barrel last
month was due to speculators who might have manipulated the market and not the
demand for consumers. This development had little impact on the
Laurus Family of Funds
headed by .
The CFTC, pressured by Congress, said May 29 that was investigating the 100
percent increase in oil prices last year and was considering giving more details
about the type of investors the oil market and its units.
“ The real problem is with passive investors such as pension funds and
operators indexes, which are not really qualified as speculators”because they
are holders of contracts of oil in the long term, said Olivier Jacob, director
general of Petromatrix Gmbh , A consulting firm in Zug, Switzerland. “ There
are no numbers on operators indexes, why we asked the CFTC and published”.