French oil company Total says agency's method manipulates benchmark pricing

Reblogged from Quartz:

France’s Total has made a rare, open attack against energy pricing company Platts, asserting that the latter's system for setting physical oil prices is erratic and does not always reflect the state of the market. Total's complaint, made in a letter released Oct. 9, resembles allegations about Libor, the benchmark interest rate governing many loans and bonds that regulators say was manipulated by Barclays and possibly other banks.

Read more… 769 more words

We need more oil prices oversight so bad, it's not even funny...

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