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Oil price agency fires back at EU benchmark reform plan

Posted on 10 July 2013

Rigorous legislation proposed by the European Commission on financial benchmarks could destroy transparency in the oil market and force up energy costs for consumers and industry, oil price publisher Argus Media said on Tuesday.
The new rules aim to regulate oil price reporting agencies (PRAs), whose daily assessments are used as benchmarks to settle physical and derivative deals worth billions, as well as the market sources who submit data to them………………………………………..Full Article: Source


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