The US Commodity Futures Trading Commission last week issued a proposed rule to place "position limits" on a number of commodities, including oil, that would restrict the amount of holdings a speculator could own, theoretically lowering the cost of commodities. The Air Transport Assn., long a proponent of reining in oil speculators in order to keep fuel costs down, said the "speculative position limits for energy" proposed by CFTC need to be more "stringent" ...

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