July 28, 2009 / 5:38 PM / 9 years ago

CFTC says has not placed blame on speculators

WASHINGTON (Reuters) - Reports that the Commodity Futures Trading Commission will blame the spike in oil prices in 2008 on speculators are “premature” and “inaccurate,” CFTC head Gary Gensler said on Tuesday.

Last year as oil prices reached record levels above $147 a barrel, the CFTC had said supply and demand fundamentals were behind the price rise.

Editing by David Gregorio

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