The head of CME Group has warned the #Trump administration it risks a “biblical disaster” if it attempts to lower oil prices by intervening in derivatives markets during the war with #Iran. Terry Duffy, the CEO of CME Group, which runs the exchan...
...ge where US oil futures trade, told a conference this week that it would erode market confidence if the US government stepped into the futures market in a bid to curb the rise in crude. “Markets do not like it when governments intervene in pricing,” Duffy told the conference. Such a move would risk a “biblical disaster” if investors lost confidence in markets to set the price of critical commodities Duffy’s comments followed a report by Reuters that suggested the US Treasury was considerin...
...ge where US oil futures trade, told a conference this week that it would erode market confidence if the US government stepped into the futures market in a bid to curb the rise in crude. “Markets do not like it when governments intervene in pricing,” Duffy told the conference. Such a move would risk a “biblical disaster” if investors lost confidence in markets to set the price of critical commodities Duffy’s comments followed a report by Reuters that suggested the US Treasury was considerin...