25 May '11, 12am

US accuses oil traders of 2008 manipulation: WASHINGTON: US authorities on Tuesday accused three companies linke...

US accuses oil traders of 2008 manipulation: WASHINGTON: US authorities on Tuesday accused three companies linke...

WASHINGTON: US authorities on Tuesday accused three companies linked to Norway-born Cypriot shipping and drilling tycoon John Fredriksen of manipulating oil trading on the NYMEX and ICE exchanges in 2008. The Commodity Futures Trading Commission (CFTC) said it had filed a civil suit against three affiliated companies - Parnon Energy Inc. of California, Arcadia Petroleum Ltd. of Britain, and Arcadia Energy (Suisse) SA of Switzerland - for collaborating to manipulate oil prices in a scheme that netted them $50 million in profits. Also named in the accusation were traders James Dyer of Australia and Nicholas Wildgoose of the United States. All three of the accused companies are wholly owned subsidiaries of Farahead Holdings Ltd, with London-based Arcadia Petroleum the main operating firm in the trading ring. Farahead is a part of the sprawling shipping, oil drilling and fish ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Oil prices rebound on weaker US dollar

Oil prices rebound on weaker US dollar

channelnewsasia.com 24 May '11, 8pm

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channelnewsasia.com 24 May '11, 9pm

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channelnewsasia.com 23 May '11, 3pm

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straitstimes.com 24 May '11, 2am

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