US regulators say they may clamp down on oil and gas price speculators by limiting the holdings of energy futures traders, including index and exchange-traded funds.

The Commodity Futures Trading Commission will hold hearings this month and next to explore the need for government-imposed restrictions on speculative trading in oil, gas and other energy markets, Chairman Gary Gensler said yesterday in a statement.

The hearings come amid increased scrutiny of the impact of speculators on oil prices. Senator Bernie Sanders, a Vermont independent, and Representative Bart Stupak, a Michigan Democrat, blame speculators for last year’s surge in crude-oil prices to a record $147.27 a barrel and called for CFTC action to avert a repeat.

Oil has climbed 41 percent this year, while demand has dropped and inventories climbed.