Senators Carl Levin and Dianne Feinstein intend to close the “London loophole” by empowering the CFTC to impose speculative limits on US traders who use London exchanges. The move is aimed at helping to prevent price manipulation and excessive speculation in the oil market.
Posts Tagged ‘Price Manipulation’
Oil prices ended a volatile week almost $10 below their record $135 levels as the Financial Services Authority joined a worldwide investigation into the price manipulation of crude.
May 30 (Bloomberg) — The U.S.Commodity Futures Trading Commission, the watchdog for commodity transactions, is investigating U.S. crude oil trading to determine whether the surge to record prices is the result of manipulation or fraud.
The move Thursday by the Commodity Futures Trading Commission, including its unusual announcement of an investigation in progress, comes after crude-oil prices topped $130 a barrel last week and tested all-time highs.
The Times: Need to Know: Royal Dutch/Shell… appeared in a Swedish court again over a 1999 price-fixing cartel” 24 August 04 Royal Dutch/Shell, Statoil, Norsk Hydro, OK-Q8 and Preem appeared in a Swedish court again over a 1999 price-fixing cartel, as the Swedish competition agency, Konkurrensverket, demanded the five’s SwKr 52 million (£3.8 million) fine [...]
ChannelNewsAsia: Five oil companies back in court over Swedish price-fixing cartel “competition authority… asked that the fines for Statoil, OK-Q8, Norsk Hydro, Preem and Shell be raised to a total of 369 million kronor (40.2 million euros, 49.3 million dollars) Posted 24 August 04 STOCKHOLM : Five oil companies were back in court in Sweden [...]