The U.K.'s Serious Fraud Office says it is "urgently reviewing" whether it has the authority to...

The U.K.'s Serious Fraud Office says it is "urgently reviewing" whether it has the authority to investigate allegations of price fixing in the oil market, after unannounced inspections earlier this week by EU antitrust authorities of BP, Shell (RDS.A, RDS.B) and Statoil (STO). The SFO believes it could be the appropriate body to investigate such allegations.

From other sites
Comments (4)
  • Rseye
    , contributor
    Comments (1212) | Send Message
    With all this going on - oil rises or falls ? Thanks
    17 May 2013, 12:15 PM Reply Like
  • sethmcs
    , contributor
    Comments (3514) | Send Message
    Ah big dollar litigation. Of course the UK wants in. Thinking of opening a new position in STO regardless.
    17 May 2013, 01:49 PM Reply Like
  • phdinsuntanning
    , contributor
    Comments (1327) | Send Message
    In the secondary school you learn that the oil market is as uncompetitive as any other commodity market. If those SFO guys want to do something serious about price fixing they should be looking who was shorting gold futures on April 12, but limited guts to go against the masters of the universe I guess. By the way the BP guy now is heading Xstatcore... or is Glenstrata..?
    17 May 2013, 03:11 PM Reply Like
  • cheeryble
    , contributor
    Comments (131) | Send Message
    I hate to say it as a holder of BP but I think this interest simply comes from the SFO being woken up by the outrageous Libor business or possibly a quiet email coming to them from some staff member who himself has woken up........and IF there's anything funny going on they should stamp on it.
    17 May 2013, 10:12 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs