Oct 9 (Reuters) -
* French energy market regulator CRE fines Vitol 5 million euros for gas market manipulation
* CRE says fines for engaging in market manipulation on the French southern virtual gas trading point “peg sud” between 1 June 2013 and 31 March 2014.
* It said Vitol would issue multiple sell orders, generally at the beginning of the trading day, when liquidity was low.
* As the day moves along, Vitol s.a. would issue sell orders at gradually decreasing prices. These sell orders would then decrease after 4 a.m. during the more liquid period of the day.
* Second, once prices had decreased, Vitol s.a. would engage in important purchases.
* CRE said after having proceeded with those purchases, Vitol s.a. would cancel its sell orders to finish the day as a net buyer. (Reporting by Bate Felix, editing by Sybille de La Hamaide)