CFTC eyes September action on oil speculation limits

The Commodity Futures Trading Commission may vote next month on long-awaited final rules to impose new curbs on speculative trading in oil and other commodities markets.

Lawmakers including Sens. Bernie Sanders (I-Vt.) and Maria Cantwell (D-Wash.), who allege Wall Street speculators are driving up energy costs, have assailed delays in finalizing rules required under last year’s Dodd-Frank law.

CFTC Chairman Gary Gensler said in a speech Thursday that speculative-position limits will likely be among the rules that commissioners vote on at the next commission meeting, set for Sept. 22.

Bloomberg reported that Gensler said the rule will be considered in September or early October.

“I feel very good about the progress staff has made,” he said to reporters, according to Bloomberg, which has more on the rules here.