US Accuses Total of Gas Market Manipulation

摘要

US federal energy regulators extended their years - long effort to crack down on a contested form of market manipulation on Tuesday, alleging that French firm Total and two of its traders rigged southwestern natural gas prices for years. In a brief notification posted on the Federal Energy Regulatory Commission's (Ferc) website, Total was alleged to have made intentionally losing trades -- known as "uneconomic" trading -- in order to affect index prices on at least 38 occasions between June 2009 and June 2012. Those losses would be offset by larger gains on other related positions, Ferc said. It did not mention any potential penalties or fines.