2023-10-06 14:52:37

US Probes Whether London Oil Trading Firm Manipulated Prices

Bloomberg

By Alex Longley

A London-based oil trading company is being investigated by the US Department of Justice for potential manipulation of fuel prices.

Dare International Ltd., which has quickly risen to become a major player in fuel oil derivatives, has been under scrutiny by federal prosecutors since at least last year, according to people familiar with the matter. Trading by the company, which in 2021 changed its name from Vercer Ltd., is also being examined for potential manipulation by the Commodity Futures Trading Commission, the people said.

#oil #commodity #tradingcompany #tradingcommission

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