Lawmaker seeks higher crude oil margins: Reports

U.S. Senator Bill Nelson (D-Fla.) wants the Commodity Futures Trading Commission (CFTC) to raise margin requirements on crude oil futures and is asking other lawmakers to co-sign a letter to that effect addressed to CFTC Chairman Gary Gensler, according to media reports.

In the letter, Nelson reportedly blames the recent rise in gasoline prices on speculation rather than fundamental supply and demand factors. He goes on to suggest that higher speculative margin requirements would keep that alleged manipulative speculation in check.

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