The issue of so-called ‘dark” markets was discussed at a briefing on industry issues held at the conclusion of the New England Fuel Institute’s Energy Summit at the Expo.
‘Inadequate oversight of the commodities markets and excessive speculation” remain a concern, a coalition of industry groups told Congressional leaders in a letter, a copy of which was circulated to attendees of the briefing.
Lack of regulation could ‘erode public confidence in the ability of these markets to establish fair prices for energy, agricultural products and other commodities that are reflective of market fundamentals,” the Commodity Markets Oversight Coalition wrote in the letter, dated June 3 and addressed to House Speaker Nancy Pelosi (D-Calif.) and the majority and minority leaders of both houses.
‘We urge Congress to act decisively to bring full transparency to all trading environments and platforms, to prevent excessive speculation, and to close the door to potential manipulation,” the letter added. Coalition members include the New England Fuel Institute (NEFI), the National Association of Oil Heating Service Managers (NAOHSM) and the National Association of Convenience Stores.