CFTC fines Statoil for market manipulation



The U.S. Commodity Futures Trading Commission said Tuesday that it fined Norway’s Statoil ASA $4 million for attempting to manipulate energy markets in 2011. The state-backed oil giant tried to influence the price of a key benchmark for propane between October and November 2011 to benefit its market positions after it saw significant losses in its gas-liquids unit that year, the CFTC said.





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