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Oil probe that EU says mirrors Libor may reveal huge damage

Posted on 29 May 2013

Oil-price manipulation may have wrought “huge” damage to consumers, the European Union’s antitrust chief said today, as he drew comparisons with EU investigations into rigging of bank rates including Libor.
While it’s too soon to draw conclusions from the May 14 raids on Royal Dutch Shell Plc (RDSA), BP Plc (BP/), Statoil ASA (STL) and Platts, EU Competition Commissioner Joaquin Almunia said both sets of probe target price manipulation through a reporting system……………………………………Full Article: Source


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