Says it is monitoring oil markets for price-fixing as it urges states to do the same

U.S. antitrust regulators said they are closely monitoring oil markets for potential price-fixing or market monopolization, urging states to help investigate unlawful conduct. In a letter reviewed by CBS News, Justice Department and Federal Trade Commission officials said recent crude price volatility does not suspend federal antitrust laws or state consumer-protection laws. They warned that volatility is not a cover for companies to manipulate retail prices or collude with competitors. Justice Department Associate Attorney General Stanley Woodward, who oversees the Antitrust Division, and FTC Chairman Andrew Ferguson also urged states to review whether enforcement is warranted under state laws targeting price gouging during market disruption or emergencies. The push highlights coordination between federal regulators and state attorneys general.