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Oil Price-Fixing Probe Widens as Neste Helps EU Inquiry: Energy

The European oil price-fixing probe expanded as Neste Oil Oyj, Finland’s only refiner, said it was asked to provide information regarding potential manipulation of global crude and biofuel markets.

The widening investigation comes as Pannonia Ethanol, a Hungarian biofuel producer, said it lodged a complaint with the European Commission last year after data-pricing company Platts denied requests to contribute to its price-setting process. Meanwhile, Statoil ASA, one of the European oil companies that has been ensnared in the investigation, said it has “zero tolerance” for breaches of rules.