The Guardian ran another story on Friday on gas price manipulation, which can be seen here. It relates to allegations that during the recent cold winter, participants held back gas in storage, rather than releasing it onto the market. Once again, it refers to alleged activity, which would not be permitted under REMIT Articles 3, … Continue reading
Another article from Reuters on the oil index manipulation story here. They reproduce the questions that the European Commission are asking.
Bloomberg have put up this story on the emerging oil index price investigation.
Interesting to see the progress of the emerging stories on alleged manipulation of oil indices. The story was first seen in various places including the FT here. There have been more stories, with a newer one in the Guardian here about the SFO (UK Serious Fraud Office) getting involved. I will write detailed thoughts over the next few days and as facts become known.