Royal Dutch Shell Plc  .com Rotating Header Image

BP, Shell, Morgan Stanley seek end of oil price-fixing lawsuit

Screen Shot 2014-01-30 at 00.47.49

Extracts from a Reuters article by Jonathan Stempel published Tuesday 29 July 2014

(Reuters) – BP Plc, Royal Dutch Shell Plc, Morgan Stanley and other companies urged a U.S. judge to dismiss nationwide litigation claiming they conspired for 12 years to fix prices of Brent crude oil, a benchmark for the cost of gasoline and heating oil.

In papers filed on Monday night in U.S. District Court in Manhattan, the defendants said there was no evidence they colluded to manipulate spot prices or intended to do so, in violation of U.S. commodity and antitrust laws.

They also said that because the alleged manipulation took place outside the United States and was governed by foreign law, U.S. courts had no authority to handle the case to begin with.

FULL ARTICLE and its sister non-profit websites,,,,,, and are owned by John Donovan. There is also a Wikipedia feature.

0 Comments on “BP, Shell, Morgan Stanley seek end of oil price-fixing lawsuit”

Leave a Comment

%d bloggers like this: