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Multinational: Platts defends oil pricing

By  |  November 18, 2013

Energy price publisher Platts defended its pricing strategies Monday as aligning with international regulatory standards, defending itself against accusations of price manipulation of various oil markets.

In an emailed statement, Platts said its pricing procedures comply with the International Organization of Securities Commissions’ principles; The organization is a Spain-based group of international market authorities in which more than 100 nations participate.

Platts’ defense comes after the European Commission raided Platts offices, along with other companies, following accusations of oil price manipulation. Ernst & Young recently completed a review of Platts pricing strategies, results that confirm Platts’ alignment with international pricing standards, the company said.

Full Content: Bloomberg

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