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Trafigura’s oil trading desk reportedly under U.S. investigations for market manipulation

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Effort is led by U.S. Commodities and Futures Trading Commission (CFTC) and probes will include Trafigura’s operations in South America, reports The Guardian.
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Singapore- based multinational commodity trading company Trafigura Pte Ltd is purportedly under investigations by U.S. authorities in relation to corruption and market manipulation in oil trading.

The effort is led by Washington-based Commodities and Futures Trading Commission (CFTC) and probes will include Trafigura’s operations in South America, according to a report by The Guardian.

This investigation comes 18 months after it was revealed that Trafigura had allegedly been mentioned in Brazil’s massive “Car Wash” corruption probe. However, it is unclear whether the two investigations are linked. 


Photo credit: Pixabay
Published: 2 June, 2020

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