From FT Alphaville:
This is a raid, oil price reporting edition
We suggest watching this story…...MUCH MORE
It looks like EU competition regulators paid some unannounced visits to oil company offices around Europe on Tuesday — note the reason:
The Commission has concerns that the companies may have colluded in reporting distorted prices to a Price Reporting Agency to manipulate the published prices for a number of oil and biofuel products. Furthermore, the Commission has concerns that the companies may have prevented others from participating in the price assessment process, with a view to distorting published prices....
The first half of the headline and the rigged line are from Matt Taibbi on a completely different price-fixing gang-rape.
