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Terry Duffy On Energy Markets and MF Global

Jun 8, 2012 || OpenMarkets || No Comments

Both CNBC and Fox Business brought some of their New York broadcast team to the CME trading floor in Chicago this week. CME Group executive chairman and president Terry Duffy took some time yesterday to discuss industry issues with both of them, touching on competitive issues, the latest reports on MF Global and the energy markets. On the last point, Duffy told CNBC’s Maria Bartiromo in the above video some of the reasons for the drop in oil prices in May:

“The price of energy came down — percentage wise — almost the exact same amount every single day the equity markets went down… The energy markets are nothing more than a reflection of future demand just like the equity markets are, so if people think they’re going to have more money, they’re going to have a bigger demand for the energy product. If they think they’re going to have less — and we saw that with equity markets going down — there will be more supply of the product.”

Duffy also spoke with Sandra Smith from Fox Business: