Britain's Financial Services Authority is poised to find that recent oil market volatility has more to do with uncertainty over economic growth than speculation in the market, according to this article in the WSJ (Note: Subscription required.). That finding is interesting in light of recent statements made by the CFTC regarding potential greater regulation of energy commodity markets.
[Update: In a timely article, the WSJ is reporting that the CFTC is likely to come out with a report next month blaming oil price volatility on speculators. (Subscription required.) And the Houston Chronicle is reporting that the CFTC has imposed new rules on natural gas swaps on ICE (the IntercontinentalExchange) to close the "Enron loop."]