The Commodity Futures Trading Commission has said it is investigating oil trading on February 6, amid suggestions that United States Oil Fund LP, an exchange-traded fund listed on NYSE Arca, and other investors may have affected the price of oil.
The investigation centres on the price difference between two contract months, which rose sharply following suggestions that the rolling of positions by “multiple market participants including United States Oil Fund” had impacted the price of oil.
On February 6, the price of West Texas Intermediate crude oil with a March expiry fell $1 to close at $40.17 a barrel, while April WTI rose to close at $46.15.
In a statement...