NEW YORK (CNN/Money) - Telephone records of New York Mercantile Exchange natural gas floor traders have been subpoenaed by the U.S. Commodity Futures Trading Commission in a probe of possible market manipulation, according to a Dow Jones Newswires report Sunday.
The report, appearing on the WSJ.com Web site, cited traders as saying Syntegra -- the company that tapes NYMEX traders' conversations -- has advised firms that the CFTC is seeking phone records back as far as Dec. 15, when natural gas futures neared 10-month highs. The subpoenas cover all the firms in the NYMEX gas "ring," and not individual firms, traders told the news service.
The report said the exchange wouldn't comment on whether the records were subpoenaed, but did suggest increased monitoring of the natural gas market.
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"NYMEX is scrutinizing the market with a fine-toothed comb and monitoring because of the extreme volatility," NYMEX spokeswoman Nachamah Jacobovits was quoted by Dow Jones Newswires as saying.
Natural gas futures prices have risen by nearly 50 percent since Thanksgiving. They closed Friday at $7.287 per British thermal unit, up more than 19 cents, due in large part to a cold snap that has gripped the northeastern United States.
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