MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
U.S. commodity regulators are examining whether word of a decision to coordinate a release of global oil stockpiles was leaked ahead of Thursday's announcement by the International Energy Agency, according to a person familiar with the matter.
Officials with the Commodity Futures Trading Commission as well as market participants have pointed to unusual trading in the oil-futures market before the IEA's announcement that it would release 60 million barrels of oil, the person said.
The CFTC is reviewing market data to find clues as to whether some traders may have received an early tip on the IEA's plan, the person said
The person familiar with the matter described the CFTC's actions as a preliminary step, adding that in these kinds of cases, the regulator will often try to work with foreign regulators to determine if suspicious trading patterns originated in other countries outside of the CFTC's jurisdiction.