CFTC may impose limits on speculators in energy markets
The Commodity Futures Trading Commission held the last of a three hearings on Wednesday apparently approving the imposition of hard limits on speculators in energy markets, Dow Jones reports. The comission may issue a draft rule this autumn which will be followed by a period of 60 days of public comments, CFTC Chairman Gary Gensler said.
U.S. invests $2.4 billion in battery tech for EV's
President Barack Obama announced on Wednesday, a $2.4 billion investment from the Department of Energy, for advanced battery technology for hybrid and electric-drive vehicles, the single largest investment ever made for this purpose, according to the department.
U.S. gasoline stockpiles drop, crude prices jump
U.S. crude oil prices jumped as stockpiles of oil climbed 1.67 million barrels to 349.5 million last week, the Energy Information Administration said on its weekly report. Gasoline inventories dropped 218,000 barrels to 212.9 million last week and distillate fuel stockpiles including heating oil and diesel, fell 1.14 million barrels to 161.5 million, according to the report.