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BBC News
US regulators have fined a former hedge fund trader $30m (£18.2m) for manipulating the natural gas market.
The Federal Energy Regulatory Commission (Ferc) levied the fine on Brian Hunter, Amaranth's lead energy trader, for violating the Commission's anti-manipulation rules.
The fine comes as President Barack Obama said a team was being assembled to look for fraud in the oil market.
Natural gas and oil are heavily traded commodities on which huge bets ride.
Mr Obama said the attorney general was assembling a team that would look for any evidence of market manipulation in the oil market, which is closely linked to - and trades in a similar way to - the gas market.
He pointed the finger at "speculators," saying a new justice department task force would "root out any cases of fraud or manipulation" that may have caused higher prices.
The average gallon of US petrol costs 35% more than it did a year ago.
Earlier this week Mr Obama said the lack of supply was not the only reason petrol prices were rising, saying speculation also played a part
More
BBC News - Amaranth trader given $30m fine for market manipulation
US regulators have fined a former hedge fund trader $30m (£18.2m) for manipulating the natural gas market.
The Federal Energy Regulatory Commission (Ferc) levied the fine on Brian Hunter, Amaranth's lead energy trader, for violating the Commission's anti-manipulation rules.
The fine comes as President Barack Obama said a team was being assembled to look for fraud in the oil market.
Natural gas and oil are heavily traded commodities on which huge bets ride.
Mr Obama said the attorney general was assembling a team that would look for any evidence of market manipulation in the oil market, which is closely linked to - and trades in a similar way to - the gas market.
He pointed the finger at "speculators," saying a new justice department task force would "root out any cases of fraud or manipulation" that may have caused higher prices.
The average gallon of US petrol costs 35% more than it did a year ago.
Earlier this week Mr Obama said the lack of supply was not the only reason petrol prices were rising, saying speculation also played a part
More
BBC News - Amaranth trader given $30m fine for market manipulation
