Ex-Glencore Oil Trader Pleads Guilty To Price Manipulation ...Middle East

Former Glencore oil trader Emilio Jose Heredia Collado has pleaded guilty to conspiring to manipulate an oil-price benchmark to influence global oil prices.  Heredia now faces up to five years in prison.  According to prosecutors, the 49-year-old trader attempted to manipulate prices through an S&P Global Platts-managed process between 2012 and 2016, the WSJ reported.  More specifically, prosecutors alleged that Heredia directed buy and sell orders that would manipulate fuel oil prices and allow the companies he worked for to…

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