Market Finance Time

The American authorities have declared the new rules of trade in the wholesale market of oil and mineral oil. From November, 2009 the prices manipulation will be punished by the penalty to $1 million a day. Also new rules for the futures market of the oil, directed on elimination of speculations are prepared. According to analysts, it can lead to new falling of the oil prices. The Federal Trade Commission of the USA (FTC) will supervise oil branch, imposing large penalties on those who will try to manipulate the prices for energy. New rules of the American wholesale oil market will take effect on November, 4th, 2009. New rules assume responsibility for public statements inappropriate to the validity about the planned prices, stocks or the offer of oil and mineral oil, and also for the forged statistics and reports. In FTC have underscored that will keep a close watch on attempts of artificial underestimating of the offer in the American market by taking tankers to an offshore, closing of oil refining factories on repair in peak demand and the prices or increase the export in the period of the low prices for reduction of stocks of oil in warehouses. Offers discussed now by the American authorities of struggle against speculators in the market of oil futures provide cutting off from the oil market of the large hedge, pension and other funds insuring there the risks. There are a lot of opponents of similar measures in the USA both in administration, and among legislators. Representatives of the oil companies are also against the struggle with speculates in the futures market as not meaningful, because, on there opinion, the prices are more defined by fundamental factors, rather than activity of funds.