CFTC Hearings Continue
The WSJ has an interesting (brief) article on the testimony anticipated from one of the energy markets' largest speculators in today's CFTC hearings. His (expected) view: That the agency should limit trading in NYMEX natural-gas futures contracts because in-and-out activity can distort the underlying gas price. (Note: Subscription required.)
[Update: For more, see this NYT article reporting on the CFTC Chairman's desire to regulate energy markets not to address price volatility necessarily but rather an over-concentration in the market. And this article in the Houston Chronicle, which reports on testimony supporting limits on futures contracts that individual traders can hold for physical delivery of natural gas, but not on financial contracts where physical delivery is not part of the arrangement.]
