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EU benchmark reform plan threatens oil price reporting

Posted on 07 June 2013

Tough new rules proposed by the European Union for financial benchmarks would seriously threaten oil price reporting agencies (PRAs), industry sources say, as they could impose huge liabilities on oil publishers and participants.
Oil price reporting agencies were already under renewed scrutiny after European authorities raided the London office of lead price publisher Platts - a unit of McGraw Hill MHFI.M - as well as oil majors BP (BP.L), Shell (RDSa.L) and Statoil (STL.OL), saying they suspected oil prices had been manipulated……………………………………Full Article: Source


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