Back to the Marc Rich Days as U.S. Probes Commodity Traders
Executives fear U.S. authorities are zeroing in on the industry once again
An oil pumpjack
Photographer: Taylor Weidman/Bloomberg
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Not since the days of fugitive oil merchant Marc Rich has the commodities trading industry faced so much global scrutiny.
The biggest independent oil and metals trading houses, including Vitol Group, Trafigura Group Ltd., Glencore Plc., Mercuria Energy Group Ltd. and Gunvor Group Ltd., are facing bribery and corruption investigations in jurisdictions ranging from Brazil to Switzerland and, most importantly, the U.S.