Parliamentary committee to probe oil markets
LONDON (Reuters) - Concern over record high oil prices has prompted a parliamentary committee to hold a hearing on regulation of the oil markets.
The Treasury Committee, chaired by Labour MP John McFall, will hear evidence on oil market regulation in mid-July.
The hearing illustrates growing pressures on politicians to take some action over oil prices, which have risen to record peaks above $145 a barrel.
In the United States, there is already a raft of bills in the House of Representatives trying to limit speculation in oil futures markets that some blame for driving up prices.
(for a Factbox on views about speculation in oil please double click on)
(Reporting by Jane Merriman)
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