A U.S. Senate committee approved a bill that would bypass President Barack Obama and permit the long-delayed Keystone XL pipeline, part of a drive by a bipartisan group of lawmakers to force a vote by the full Senate.
The U.S. Commodity Futures Trading Commission may increase risk of manipulation and volatility in markets for oil, gas and other commodities unless new speculation limits apply similar treatment to physical-settled and cash-settled derivatives, Senator Maria Cantwell said.
U.S. Senator Maria Cantwell, who previously voted against a proposed U.S. regulatory overhaul, plans to back the legislation, bringing Democrats closer to the 60 votes needed for it to pass, her spokesman said.
The U.S. Transportation Department issued an emergency order designed to reduce the risks of transporting crude from North Dakota’s booming Bakken region by rail, a week after an oil train derailed and burned in Virginia.