We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Marathon Oil Unit Faces CFTC Enforcement Action

Law360 (May 8, 2007, 12:00 AM EDT) -- Marathon Oil Corp. may be facing an enforcement action from the Commodity Futures Trading Commission over alleged manipulation of the price of oil in 2003, the company said Monday in a regulatory filing.

According to Marathon, the CFTC told the company’s petroleum subsidiary that it had been implicated in a scheme to offer to sell West Texas Intermediate crude oil at a price lower than current bids.

On April 12, the CFTC told Marathon Petroleum Co. LLC that it planned to recommend that the unit for...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.