U.S. Oil-Crash Study to Avoid Blaming Traders as Probe Continues
- CFTC review of April 20 trading to cite unusual market factors
- Regulator is pursuing separate investigation into misconduct
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A highly anticipated U.S. government report on the April 20 oil crash will stop short of blaming any specific traders or firms, and refrain from recommending structural changes for the crude market, said three people familiar with the matter.
The Commodity Futures Trading Commission review, which could be released as soon as next week, will chronicle the day’s unusual market dynamics and its trading flows, said the people. Yet it won’t draw a firm conclusion for what caused oil to plunge to -$37 a barrel -- the first time it ever traded at a negative price.