The U.S. Commodity Futures Trading Commission, under pressure from Congress to police markets in the wake of record energy prices, accused Optiver Holding BV of manipulating U.S. energy markets.
The allegations against the Amsterdam-based hedge fund come as the Senate prepares to vote as early as tomorrow on legislation to curb speculation in energy markets and expand the commission's authority and staffing.
``Congress is looking for someone to blame,'' said Kevin Book, senior vice president for Friedman, Billings, Ramsey & Co. Inc. in Arlington, Virginia. ``The CFTC is trying to make sure it's not them.'
hmmm....ok, we never resolved that debate on whether oil was supply/demand or manipulation, so how can they manipulative the energy markets if so many claim that isn't what is going on?