Oil Trading Probe Disclosed

During continued volatility in oil prices, federal regulators said that they had been investigating crude oil trading, storage and transportation for the past six months with a focus on possible "futures market manipulation." The Commodity Futures Trading Commission, which normally keeps investigations confidential, said in a statement that it was "taking the extraordinary step of disclosing this investigation because of today's unprecedented market conditions." Those conditions have sent oil prices to record heights, adding to the U.S. trade deficit, hurting consumers and companies, and weighing heavily on the nation's economy.