Oil traders face US civil action

As the price of oil has risen sharply since last year, the watchdog has turned its focus on the activities of speculators.

It is feared that traders have contributed to swings in oil prices.

Bastiaan van Kempen, the boss of Chicago-based
Optiver, a subsidiary of Optiver Holding, was named as a defendant
along with trader Christopher Dowson and Randal Meijer, a supervisor of
Optiver.

Out of 19 attempts, five were successful earning the accused about $1m.

The full BBC.co.uk can be read here.

July 25, 2008 In: Current Affairs Comments (None)