NEW YORK, Sept 17 (Reuters) – Oil fell nearly $3 on Monday
in a wild session that saw Brent plunge more than $5 a barrel in
a wave of late, high-volume selling before paring losses as
markets sought an explanation for the sudden crash.

Many traders said the sell-off appeared to have stemmed from
a problem with an automated computer trading program. A top
regulator at the U.S. Commodity Futures Trading Commission
(CFTC) said the agency was “looking into” the trades behind the
price plunge and was in contact with the exchanges.

NEW YORK (Reuters) – Oil fell nearly $3 on Monday, recovering slightly from a high-volume, rapid selloff that sent Brent crude crashing through technical support as markets sought an explanation for the plunge.

Brent crude, which had settled at $116.66 a barrel on Friday in its seventh straight session of gains, sank from $115.20 at 1:52 p.m. EDT to $111.60 three minutes later as trading volumes – which had been muted by the Rosh Hashanah holiday – shot up.

WASHINGTON, Sept 13 (Reuters) – The national energy adviser
for Mitt Romney’s presidential campaign, Oklahoma oil
billionaire Harold Hamm, made political contributions that
exceed Federal legal limits by as much as 41 percent, according
to data compiled by Reuters.

The data, based on public filings, showed that Hamm’s
political donations exceeded the legal limits for individual
donations to political parties, campaigns and po litical action
committees (P ACs) over the 2011-2012 election period.

NEW YORK/LONDON (Reuters) – The U.S. government and OPEC offered differing outlooks for global oil markets on Tuesday, with Washington ratcheting up price forecasts for oil on stronger demand while OPEC highlighted rising output from the exporter group.

In separate monthly reports, both emphasized the possibility that a worsening European crisis could still drag down oil prices, warnings that may complicate deliberations over whether to tap into strategic oil reserves again.

HOUSTON/NEW YORK, July 31 (Reuters) -
I ntercontinentalExchange Inc’s plan to switch all of its
cleared over-the-counter (OTC) energy products to futures
contracts could be a boon to large merchants looking to reduce
their exposure to potentially costly new rules.

The move, announced by ICE on Monday, will see the exchange
switch the designation of all of its cleared OTC swaps for
crude, refined products, natural gas, electric power and natural
gas liquids to futures contracts in January 2013.

NEW YORK (Reuters) – Brent oil ended down for the first time in five sessions on Monday as worries that expected stimulus from the United States and Europe may fail to lift their economies overshadowed signs of lower OPEC production.

Supply from the 12-member Organization of the Petroleum Exporting Countries (OPEC) fell by 450,000 barrels per day (bpd) in July to 31.18 million bpd, a Reuters survey showed, as Western sanctions further cut supply from Iran and due to reduced shipments from Angola, Saudi Arabia and Libya.

NEW YORK, July 30 (Reuters) – Brent crude oil fell to $106
per barrel on Monday as signs of lower production from OPEC in
July were overshadowed by concerns expected stimulus measures
from the United States and Europe may not be enough to shore up
their fragile economies.

Supply from the 12-member Organization of the Petroleum
Exporting Countries (OPEC) fell by 450,000 barrels per day (bpd)
in July to 31.18 million bpd, a Reuters survey showed, as
Western sanctions further cut supply from Iran and due to
reduced shipments from Angola, Saudi Arabia and Libya.

July 17 (Reuters) – Rosenthal Collins Group will start
providing daily updates on how it invests segregated customer
funds after the bankruptcy and apparent $100 million-plus fraud
at Peregrine Financial, the futures clearinghouse said on
Tuesday.

The move is the latest sign of brokers and clearing firms
trying to reassure customers that their excess collateral and
funds are safe following the collapse of MF Global Holding Ltd
last October and Iowa brokerage Peregrine Financial
last week.

By David Sheppard

(Reuters) – The National Futures Association on Monday announced a full review of its audit division to answer fierce criticism that it missed two decades of fraud at failed Iowa brokerage Peregrine Financial.

Additionally, the Wall Street Journal late on Monday reported that the NFA, which oversees mostly smaller, independent futures operations, and the CME Group, responsible for regulating most of the biggest brokers, will conduct a “sweeping review” of dozens of firms across the country.

By David Sheppard

(Reuters) – A former customer of Peregrine Financial called Monday for a U.S. congressional investigation into the National Futures Association (NFA), after the industry-funded regulator failed to spot 20-year fraud at the bankrupt Iowa brokerage.

Attain Capital Management, a Chicago-based introducing broker that had accounts at Peregrine Financial, or PFGBest as it is commonly known in the futures industry, said there needs to be an immediate overall of how futures brokers are regulated.