Politics

Regulators Say Company Manipulated Oil Market

Commodity regulators in Washington on Thursday accused a Dutch trading company of manipulating the prices of crude oil, heating oil and gasoline over an 11-day period last year. The scheme, which the defendants referred to in conversations caught on tape as a plan to “bully the market,” produced illegal profits of more than $1 million, according to regulators. On at least five occasions, global benchmark prices of those products settled at artificial levels, they said.
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Posted by Editor at July 25, 2008 12:39 PM