 BP is one of the world's biggest oil and crude derivatives traders |
UK energy firm BP is facing the prospect of civil action in the US amid allegations that it was involved in manipulating the petrol market. The Commodity Futures Trade Commission (CFTC) has been probing a number of gasoline futures trades, following allegations first revealed in 2002.
Now the firm says the regulator's staff are recommending court action.
BP, which has also faced a number of other trading allegations, denied the claims and said it acted properly.
Referring to documents filed on Wednesday, BP said that the CFTC's staff intend to advise the CFTC that a civil enforcement action should be brought against BP Corporation North America, Inc.
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