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U.S. says Norway's Statoil to pay a $4 mln fine over swaps manipulation
November 14, 2017 / 3:55 PM / 3 days ago

U.S. says Norway's Statoil to pay a $4 mln fine over swaps manipulation

WASHINGTON, Nov 14 (Reuters) - Statoil ASA will pay $4 million to settle U.S. charges that the energy company tried to manipulate a key propane benchmark in order to benefit its NYMEX-cleared swaps position, the Commodity Futures Trading Commission (CFTC) said on Tuesday.

In a statement, the U.S. regulatory agency said Norway-based Statoil in late 2011 had attempted to manipulate the Argus Far East Index, a key index of propane prices. (Reporting by Susan Heavey and Tim Ahmann; Editing by Chizu Nomiyama)

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