The settlement is the latest as the CFTC steps up on cracking down manipulation
The US derivatives regulator has issued a
fine of $13m to three oil trading firms and two individual
traders for attempting to manipulate a key US crude oil futures
The Commodity Futures Trading Commission
(CFTC) accused London-based Arcadia Petrolium, a global oil
trading firm, its Swiss-based subsidiary Arcadia Energy and its
US unit Parnon Energy with manipulation and attempted
manipulation of the Nymex light sweet crude oil futures
contract spreads from January to April 2008.
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