Release: 5553-08

For Release: September 22, 2008

CFTC Statement Regarding Today’s Trading in Crude Oil

Washington, DC – As part of its ongoing national crude oil investigation, the Commodity Futures Trading Commission (CFTC) made the following statement regarding today’s market activity:

“CFTC surveillance and enforcement staff are closely monitoring today’s large movement in the price of crude oil,” said CFTC Acting Chairman Walter Lukken. “We are working closely with NYMEX compliance staff to ensure that no one is taking advantage of the current stresses facing our financial marketplace for their own manipulative gain.”

Stephen J. Obie, Acting Director of the CFTC’s Division of Enforcement added, “CFTC enforcement staff will scour today’s trading activity to determine whether anyone engaged in illegal manipulative activity. No one should be trying to game our nation’s commodity futures markets.”

As part of its investigation, enforcement staff can compel testimony, under oath, and the production of information concerning the crude oil markets, including recent crude oil trading.

Media Contacts
Ianthe Zabel
202-418-5080

R. David Gary
202-418-5085

Last Updated: September 22, 2008