Total (TOT) Oil Trading, one of the world’s largest oil trading groups, warned IOSCO during its...

|By:, SA News Editor

Total (TOT) Oil Trading, one of the world’s largest oil trading groups, warned IOSCO during its manipulation probe of “inaccurate pricing” in energy market benchmarks underpinning billions of dollars of trading each day in contracts such as Brent and WTI. It's not good news after the discovery of widespread manipulation of Libor, the benchmark for borrowing in interbank lending.