In late July and early August, the US Commodities Futures Trading Commission held three days of hearings on whether federal position limits should be set by the CFTC for "commodities of finite supply" such as the energy markets. It is an issue in which US airlines are heavily invested. They have been lobbying Washington for new laws and regulations intended to reduce the extraordinary swings in the price of oil that have whipsawed them and their employees over the past 21 months, ...

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