"We caution against mistakenly categorizing speculation as a form of manipulation," says the...

|By:, SA News Editor

"We caution against mistakenly categorizing speculation as a form of manipulation," says the CME, responding to the President's proposals this morning. "To use margin requirements to control cash prices is misplaced ... (this) would make the markets less efficient, less tied to fundamentals ... push hedgers out of the market ... (and) make oil more expensive for all consumers."