EU's Almunia compares oil investigation to Libor inquiry

05/28/2013 | Bloomberg

EU Competition Commissioner Joaquin Almunia has compared an investigation into possible manipulation of an oil benchmark to an examination of the London Interbank Offered Rate and the Euro Interbank Offered Rate. "In these investigations -- as in the Libor and Euribor cases -- our goal is to make sure that the companies have not colluded to manipulate their prices through a reporting system," he said.

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