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Fat finger not likely cause of Monday oil plunge: CFTC's Chilton
September 18, 2012 / 8:05 PM / in 5 years

Fat finger not likely cause of Monday oil plunge: CFTC's Chilton

WASHINGTON, Sept 18 (Reuters) - A trader pressing the wrong key was not the likely cause of a brief plunge in oil prices on Monday, a top regulator at the Commodity Futures Trading Commission told Reuters.

“Based upon our initial review, it does not appear that a fat finger is the likely cause of the oil price dive yesterday,” Commissioner Bart Chilton said on Tuesday.

Brent crude prices plummeted more than $3 in a matter of minutes just before 2 p.m. EDT (1800 GMT) on Monday as trading volumes - which had been muted by the Rosh Hashana holiday - shot up.

It was not immediately clear what caused the price plunge, but CFTC officials are looking into the matter.

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