Fri, Nov 28, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

The next Libor? Everything you need to know about the oil price fixing scandal

Posted on 20 June 2013

The Wall Street Journal has a painstakingly detailed article out today on how oil prices are benchmarked, and how those benchmarks can be manipulated. The EU has been investigating major oil companies, as well as the industry publication that sets the daily benchmark price, since last month. If the probe turns up damning evidence, this could be the biggest price-fixing scandal since Libor.
What’s going on here? In mid-May, EU investigators raided the offices of Shell, BP and Statoil, three of Europe’s largest oil exporters. They also hit Platts, which takes pricing data from oil traders and uses it to set a daily oil-price benchmark………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38189 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
November 2014
S M T W T F S
« Oct    
 1
2345678
9101112131415
16171819202122
23242526272829
30