Oil exec and Trump ally Hamm seeks U.S. probe of oil price crash [Reuters (UK)]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Reuters
Oil exec and Trump ally Hamm seeks U.S. probe of oil price crash - Reuters 3 Min Read WASHINGTON (Reuters) - The founder of Continental Resources Inc ( CLR.N ), an ally of U.S. President Donald Trump, is pressing the U.S. commodity markets regulator and the exchange to probe whether market manipulation or system failure was behind this week’s unprecedented plunge in U.S. crude futures. Continental’s executive chairman Harold Hamm sent a letter dated Tuesday, April 21, to the U.S. Commodity Futures Trading Commission asking the regulator to probe whether “potential market manipulation, failed systems or computer programming failures” was behind Monday’s price crash, which took U.S. oil futures into negative territory for the first time. U.S. crude futures for May delivery plunged below zero on Monday, with desperate traders at one point paying customers some $40 a barrel to take oil so they would not have to accept delivery on an expiring futures contract. The coronavirus pandemic ha
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