The European Commission investigation into the possible manipulation of energy price benchmarks has widened, with Brussels seeking new information from trading houses, the FT reports.» Read More
The European Commission investigation into the possible manipulation of energy price benchmarks has widened, with Brussels seeking new information from trading houses, the FT reports.
BP PLC rose$. 44 or 1.0 percent, to $43.40. ConocoPhillips rose$. 72 or 1.1 percent, to $64.03. Exxon Mobil Corp. rose$. 76 or. 8 percent, to $92.52.
As of this year, the U.S. Commodity Futures Trading Commission subjects companies trading more than $8 billion in swaps to tough oversight unless they do so to hedge price swings in their day-to-day business.
The energy boom in the U.S. is providing a shock absorber of sorts for major oil companies, helping to hedge a strong dollar amid an the increase in domestic production.
BP PLC rose$. 47 or 1.1 percent, to $43.43. ConocoPhillips rose$. 92 or 1.5 percent, to $64.23. Exxon Mobil Corp. rose$. 77 or. 8 percent, to $92.53.
LONDON, May 20- European investigators have asked top trading houses Glencore, Vitol and Gunvor to help with a probe into oil price manipulation, while not suggesting they are under investigation, industry sources said on Monday.
BP PLC rose$. 23 or. 5 percent, to $43.19. ConocoPhillips rose$. 59 or. 9 percent, to $63.90. Exxon Mobil Corp. rose$. 40 or. 4 percent, to $92.16.
May 18- Texas has joined the crowd of Gulf of Mexico states to file suit against BP Plc, Halliburton Co and others for their role in one of the worst oil spills in U.S. history. Texas joins four other states that have sued BP and other companies in connection to the spill: Florida and Mississippi filed complaints last month, while Alabama and Louisiana did in 2010..
*Freeport first project approved since 2011.
BP PLC rose$. 21 or. 5 percent, to $42.96. ConocoPhillips rose$. 88 or 1.4 percent, to $63.31. Exxon Mobil Corp. rose $1.06 or 1.2 percent, to $91.76.
LONDON/ WASHINGTON, May 17- A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.
HOUSTON, May 17- Independent western U.S. refiner Tesoro Corp said on Friday that it has signed a side letter agreement with California Attorney General Kamala Harris on its planned $2.4- billion purchase of BP Plc's Los Angeles- area refinery and other assets.
WASHINGTON, May 16- The chairman of the U.S. Senate's energy committee asked the Justice Department on Friday to investigate whether alleged price manipulation by three oil companies in Europe has boosted fuel prices for U.S. consumers.
BP PLC rose$. 07 or. 2 percent, to $42.82. ConocoPhillips rose$. 22 or. 3 percent, to $62.65. Exxon Mobil Corp. rose$. 40 or. 4 percent, to $91.10.
May 17- The U.S. Federal Trade Commission on Friday said it approved Tesoro Corp's purchase of BP Plc's 240,000 barrel per day Los Angles area refinery and other assets in a 3-0 vote. The commission found the deal would not substantially lessen competition among seven refiners for gasoline in California, the nation's largest gasoline market.
*European Commission has raided pricing agency Platts. The mid-sized trading company, which deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday.
BP PLC rose$. 15 or. 3 percent, to $42.90. ConocoPhillips rose$. 29 or. 5 percent, to $62.72. Exxon Mobil Corp. rose$. 63 or. 7 percent, to $91.33.
NEW ORLEANS, May 16- The deadline for claims against BP Plc in connection with the 2010 Gulf of Mexico oil spill is 11 months away, but the man responsible for paying the claims said on Thursday he is already bracing for a late surge in filings.
European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said.
BP PLC fell$. 23 or. 5 percent, to $42.75. ConocoPhillips rose$. 01 or percent, to $62.43. Exxon Mobil Corp. fell$. 54 or. 6 percent, to $90.70.