Comment Text:
Recent events in the oil market gives evidence to excess speculation. The attched graph shows a sharp drop in oil price in early May coincident with CME raising margins to curb speculation. Also the surprise SPR tap spooked even more speculators causing a further decline (probably temporary). Please be reminded that Rex Tillerson, XOM CEO testifid before Congress that his logical supply/demand price for oil would be what the next bbl costs...60-70$/bbl. Do your mandated job...curb speculation especially in oil.
