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EU oil price probe underlines flawed system

FINANCIAL TIMES

By Ajay Makan and Javier Blas in London: May 17, 2013 5:48 pm

In simultaneous raids this week on the offices of the oil majors BP, Royal Dutch Shell and Statoil of Norway, and Platts, a leading price reporting agency that helps set energy benchmark prices, the European Commission has fired the starting gun on one of the biggest cross-country investigations into benchmark pricing since banks were caught red-handed…

(THIS IS THE BEST ARTICLE WE HAVE READ EXPLAINING ABOUT THE INVESTIGATION AND HOW ENERGY BENCHMARK PRICES ARE SET)

FULL FT ARTICLE

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