US accuses Glencore of dishonest dealing with Pemex

US accuses Glencore of dishonest dealing with Pemex

Economy & Policy Regulation Energy Oil Mexico United States United Kingdom Switzerland

US Commodity Futures Trading Commission (CFTC) has accused British-Swiss trading firm Glencore of obtaining confidential information about Mexico's Pemex and using it to its advantage during oil trades, according to an article by Bloomberg. The CFTC said Glencore acquired the information from employees and agents of state-owned companies, including the Mexican oil producer, according to Bloomberg. The regulator on Tuesday ordered Glencore to pay a fine of $1.2 billion for manipulation and corrup

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