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BREAKING NEWS

Obama calls for crackdown on oil market manipulation

By REUTERS

APRIL 17, 2012 18:49

WASHINGTON - President Barack Obama on Tuesday called on Congress to pass new measures to crack down on oil market manipulation "right away," saying the United States cannot afford a situation where speculators artificially drive up the price of oil.

"We should strengthen protections for American consumers, not gut them," Obama said as he proposed higher penalties for companies accused of oil market manipulation.

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