futures contracts

5 Stories

Feds Sue Big Oil Traders for Goosing Prices

Regulators say they scored $50M by manipulating '08 spike

(Newser) - Federal regulators have charged a pair of big-time traders and their firms with illegally manipulating oil prices during the 2008 oil crisis. According to the Commodity Futures Trading Commission, the firms made $50 million in “unlawful profits” by hoarding nearly two-thirds of the oil available in one major US... More »

Movie Stock Exchange Proves Wall Street's Mad

Speculation doesn't really help anyone

(Newser) - The announcement that investors can soon buy “futures” in Hollywood movies, shouldn’t be too surprising—it’s the logical extension of what financial markets have become. Once tools for raising capital for real businesses, the markets “have turned themselves into high-tech casinos,” writes Steven Pearlstein of... More »

Like a Movie's Chances? Now You Can Bet on It

First futures market for films about to begin

(Newser) - 3D isn’t the only immersive movie experience out there—soon, filmgoers will be able to play Hollywood mogul and bet on box office in the nation’s first film industry futures exchange. Cantor Futures, expected to gain regulatory approval next month, will allow anyone to buy contracts starting at... More »

Oil Rockets to $135 on Surprise Supply Decline

Unexpected decline in US oil and gasoline supplies sparks surge

(Newser) - A surprise 5.32 million barrel decline in US crude oil stockpiles prompted oil prices to surge past a record $135 a barrel in after-hours New York trading this morning, extending oil's runup to 19% this month, reports Bloomberg. The Energy Department also said yesterday that gasoline stockpiles had declined... More »

Futures Market Predicts Libby Pardon

Online traders put their money on Scooter walking

(Newser) - Traders at the online market Intrade.com betting big that President Bush will pardon Scooter Libby.  CNN reports that at the "prediction market," where people buy and sell futures contracts on real-world events, 63 percent of traders are bullish on the prospect of Libby receiving a pardon... More »

5 Stories