Following last week’s news of a fine under REMIT for market manipulation, the CFTC have fined Total Gas & Power North America $3.6 million for a gas price manipulation, announced here. The charge is that large volumes of fixed price natural gas was traded at four hubs with the objective of manipulating indices. This article on Reuters further reports on the incident.
In the meantime an investigation into alleged ethanol benchmark manipulation by collusion, has been dropped by the European Commission, as reported here on the Bloomberg web site. The article reports that the case against Royal Dutch Shell Plc, BP Plc and Statoil ASA was dropped because the evidence and data did not support the suspicions.